Atlassian, Twilio, and Cloudflare shares surge after strong earnings and upgraded growth forecasts drive investor optimism.
Atlassian, Twilio, and Cloudflare shares jumped after reporting stronger-than-expected quarterly results and raising their growth outlooks. Atlassian led the rally, climbing 34% to $148.09, while Twilio rose 27% to $245.80 and Cloudflare gained 9% to $310.06.
Bank of America upgraded Atlassian to Buy with a $175 price target, citing its workflow and collaboration data as a key AI asset. Goldman Sachs raised Cloudflare’s target to $389, highlighting 36% revenue growth and record large-customer additions. The NASDAQ 100 rose 0.66% to $719.24, supported by a weaker July jobs report easing rate hike concerns.
The gains reflect broader investor appetite for growth-oriented tech stocks amid improving macroeconomic conditions.