Why Atlassian, Dover, and athenahealth Jumped Today
The stock market erupted higher on Friday, finishing the week with major benchmarks hitting fresh records. Investors were most pleased about progress in Washington toward a tax reform package, as the Senate moved forward with a budget proposal that will allow future action related to taxes without the risk of a filibuster. Earnings season also continued to play out favorably, and several companies reported good news that sent their shares higher by even more than the roughly half-percent move from the market at large. Atlassian (NASDAQ: TEAM), Dover (NYSE: DOV), and athenahealth (NASDAQ: ATHN) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.
Shares of Atlassian soared nearly 25% after the maker of cloud-based collaboration software reported its fiscal first-quarter financial results. The company enjoyed a more-than-40% jump in revenue, as more than 170,000 customers now have a maintenance agreement or subscription for Atlassian platforms and products. Expectations for the current quarter were also favorable, and Atlassian believes that it can keep growing at a 35% to 40% clip throughout the 2018 fiscal year. With similar cloud-based services having done well recently, investors have every reason to believe that Atlassian can follow in their footsteps and produce outsized gains as well.
Image source: Atlassian.
Source: Fool.com
