Atlassian shares reached a 52-week peak of $184.22 on Wednesday, trading near $184.13 and gaining approximately 7% during the session. The stock has rallied 124% over the past six months, giving the collaboration software company a market capitalization of $46.45 billion. The move followed fiscal fourth-quarter adjusted earnings of $1.87 per share, above the $1.50 analyst consensus, and revenue of $1.77 billion, ahead of the $1.66 billion estimate and up 28% year over year. Cloud revenue increased 31% to $1.21 billion, while remaining performance obligations climbed 44% to $4.8 billion. Atlassian also posted its first GAAP operating profit in more than two years, with a 12% operating margin. Royal Bank of Canada raised its rating to Moderate Buy, and 25 of 30 analysts now rate the stock Buy. The consensus price target is $178.63, while 21 analysts have recently raised their earnings forecasts. Institutional investors own 94.45% of outstanding shares, and major shareholders expanded their positions. CEO Mike Cannon-Brookes has committed to a personal $250 million stock purchase plan.