Atlassian soars on strong results, outlook

Atlassian

07/08/2026 09:47

** Atlassian Corp TEAM.O shares rally nearly 30% to $143.02 premarket after co beat Q4 estimates on strong demand for cloud products
** Software maker expects Q1 rev between $1.71 bln and $1.72 bln, above analysts' avg estimate of $1.66 bln
** At least four brokerages, including Jefferies and Raymond James, raise PT on stock
** Stock recently at 18x expected earnings, well below its five-yr avg forward PE of 83, suggesting shares may be undervalued - LSEG data
** Avg rating of 33 analysts is "buy"; their median PT is $152 - LSEG-compiled data
** YTD, shares down about 32% vs a 13% rise for Nasdaq .IXIC

(Reporting by Joel Jose in Bengaluru)
((joeljose@thomsonreuters.com))