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Software stocks surge as Atlassian, Twilio and Cloudflare beat earnings
Atlassian shares rose 34% to $148.09 after a stronger-than-expected quarterly report and a more upbeat fiscal 2027 outlook.
Software stocks jumped Friday, led by Atlassian, Twilio and Cloudflare after each company posted strong quarterly results and raised growth outlooks, according to Yahoo Finance.
Atlassian shares climbed 34% to $148.09 after it reported better-than-expected results and provided an encouraging outlook for fiscal 2027. The move also followed a Bank of America upgrade of Atlassian to Buy, with the firm lifting its price target to $175 and calling the company’s workflow and collaboration data an increasingly valuable AI asset.
Twilio shares rose 27% to $245.80, while Cloudflare advanced 9% to $310.06 after both delivered strong quarters and improved outlooks. Yahoo Finance also pointed to a broader market tailwind, with the Nasdaq 100 and Invesco QQQ Trust up as a weaker-than-expected July jobs report reduced expectations for a September interest-rate hike.
For analysts, Yahoo Finance cited additional target increases including Goldman Sachs raising Cloudflare’s price target to $389, and Jefferies, Wells Fargo and others boosting their targets for Atlassian. It also noted the Nasdaq 100 was tracking gains in the Invesco QQQ Trust.
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