TEAM
Atlassian Corporation

Atlassian CorporationTEAM

Technology · Software - Application
219.41USD
-1.79%
Oct 28, 2026
TEAM overview ready
Cloud Platform Enabling AI-Driven Enterprise Workflows and Service Operations
Atlassian is an application-layer workflow and knowledge-system enabler: its cloud platform is a system of record for work, documentation, software delivery, and service operations that can supply context and action surfaces for enterprise AI agents.
Narrative is still early
Exposed to the Enterprise AI Agent Adoption narrative through AI-Enabled Work Management and Service Operations — enabling supplier.
Advancing price action
Longer-term context reads early recovery, with a near-term setup of daily reclaim.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Intense competition in enterprise collaboration software.
Market Oct 27Filing Jun 30Price action Aug 9Research Jul 29

Conviction Level

CompanyFit6.0PriceAction8.6Valuation4.1CompanyPosition9.3BusinessQuality6.6

Conviction uses Company Fit, Price Action, Valuation, Business Quality. Company Position is research context, not an input.

Theme leadershipGroup context · not a Conviction input
vs SPY
+25.4pp
Theme return
+26.0%
Beating SPY
6 of 6
21 sessions to Oct 27, 2026 · ranked 1 of 59 themes
Price
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Price Action

Advancing price action
Longer-term context reads early recovery, with a near-term setup of daily reclaim.
EntryReset + recovery

The stock is still rebuilding below its long-term weekly base, and the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$57.1B
Avg Volume (60D)
2.9M
60 sessions
Revenue Growth YoY
+26.0%
FY2026 vs FY2025
Gross Margin
+84.8%
Trailing twelve months
Operating Margin
+0.2%
Trailing twelve months
Free Cash Flow Yield
+2.3%
P/E
N/M
EV / EBITDA
376.3x
EV / Sales
8.6x
Market metrics as of Oct 27, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say fair; peers is the dissenting view.
Atlassian Corporation has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Atlassian is an application-layer workflow and knowledge-system enabler: its cloud platform is a system of record for work, documentation, software delivery, and service operations that can supply context and action surfaces for enterprise AI agents.
Opportunity
Moderate opportunity
Enterprise spending to embed governed AI agents, contextual search, and workflow automation into collaboration, software-delivery, and service-management systems so knowledge work and operational tasks can be completed with less manual coordination.
Key risk
Intense competition in enterprise collaboration software.

Economic classification

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Business & Markets

Technology · Software - Application
What they do

Atlassian Corporation develops and operates cloud-based collaboration software that connects teams and streamlines workflows across organizations globally.

How it earns

The company primarily generates revenue through subscription-based licensing of its software products and cloud services.

Products & services
Jira
Confluence
Trello
Jira Service Management
Bitbucket
Compass
Collections
Customers & end markets
Enterprises
Software development teams
IT service management teams
Knowledge workers
Market position

Leader in application-layer workflow and knowledge management software for enterprise collaboration and software delivery.

Demand drivers
Low cyclicality

Demand is driven by ongoing enterprise software adoption and digital transformation rather than economic cycles.