Key Stats for Atlassian Stock
- Past-Week Performance: -1%
- 52-Week Range: $67.9 to $287.3
- Current Price: $75.1
What Happened?
Despite trading at $75.13, down 5.4% on February 27, Atlassian just delivered its first-ever $1 billion cloud revenue quarter, up 26% year-over-year.
On February 23, Jefferies maintained its preference for Atlassian alongside Salesforce and Intuit, citing durable models and strong internal AI adoption driving growth confidence.
Atlassian’s Teamwork Collection surpassed 1 million seats in under nine months while Rovo crossed 5 million monthly active users, directly powering cloud revenue acceleration.
Meanwhile, markets are re-rating Atlassian from a legacy project-management tool to a mission-critical AI collaboration platform, evidenced by RPO growing 44% and NRR holding above 120% for three straight quarters.
Additionally, CEO and Co-Founder Mike Cannon-Brookes stated on the Q2 earnings call that “we surpassed $6 billion in annual run rate revenue, delivered our first ever $1 billion cloud revenue quarter,” reinforcing Atlassian’s accelerating enterprise momentum.
On February 19, Morgan Stanley strategist Michael Wilson identified Atlassian as an attractive entry point alongside Microsoft, Salesforce, and ServiceNow, arguing AI disruption fears across software are premature.
With enterprises accounting for nearly 50% of Rovo MCP Server usage and agents now embedded in Jira, Atlassian is positioning itself as the connective tissue of enterprise AI workflows over the next three to five years.
Wall Street’s Take on TEAM Stock
Atlassian’s February 25 agent launch in Jira directly accelerates enterprise seat expansion, confirming the cloud revenue growth trajectory already building toward FY2027 targets.
Revenue accelerates from 19.7% growth in FY2025 to a forecasted 22.2% in FY2026, while EPS surges 29.4% and EBITDA margins expand to 26.9%, signaling a business that is genuinely reaccelerating, not plateauing.
However, Wall Street holds firm with 21 Buys, 4 Outperforms, and 8 Holds against zero Sells, anchoring a mean price target of $177.9 that implies 136.7% upside from $75.1, reflecting conviction held through a brutal selloff.
The analyst range stretches from $105.0 to $480.0, with the low hinging on AI disruption compressing seat growth and the high requiring Teamwork Collection to scale dramatically beyond its current 1 million seats.
What Does the Valuation Model Say?
The mid-case model targets $139.2, implying 85.3% total return by June 30, 2030, and the 15.3% annualized IRR makes $75.1 look like a generational entry point.
Yet the market is treating TEAM as an AI disruption casualty, while the data tells the opposite story.
In fact, RPO growing 44% year-over-year proves enterprises are signing longer, bigger commitments to Atlassian, not walking away.
Further, management closing a record number of $1 million-plus ACV deals, nearly doubling year-over-year, confirms this is a misunderstood compounder, not a melting asset.
Still, if Teamwork Collection seat growth stalls below 2 million, the 16.0% mid-case revenue CAGR collapses and the $139.2 target becomes unreachable.
So watch the Q3 FY2026 Teamwork Collection seat count, because crossing 1.5 million seats confirms the AI monetization engine is real.
TEAM is deeply undervalued at $75.1, with 44% RPO growth and zero Sells on Wall Street. Watch Teamwork Collection seats next quarter.
Should You Invest in Atlassian Corporation?
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