TEAM

AtlassianF

Nasdaq / Software & Services

At close

2026-07-18

Current thesis

The primary-source read is fundamentally constructive: Q3 growth accelerated, cloud growth re-accelerated to 29%, RPO reached about $4.0B, management raised FY26 revenue expectations, and shareholder materials highlighted stronger enterprise, AI, and collections adoption with signs that Rovo usage correlates with faster ARR growth. The official May 6 Flex announcement also suggests Atlassian is trying to make enterprise AI adoption easier to monetize across a broader platform footprint.

Posture

Defensive

Lead driver

Value

What changed

Value remains the lead driver in the composite, 7D delta -0.3.

What can break

Free cash flow fell y/y in Q3 and the 10-Q said the decline was driven by lower operating cash flow, including higher cash paid to employees, vendors, restructuring-related items, and income taxes. [#10-Q-2026-05-01]

Momentum

Value

Sentiment

Setup hits (3d)

0 · Net Neutral

AI TargetsBase $84.00 · Bull $102.00 · Bear $70.00

Data freshness

Prices

As of 2026-07-18

Fundamentals

As of 2026-07-20 • Vendor: Data Vendor v1

Scores

As of 2026-07-18 • Model: HYBRID_IC_RP

AI Memo

As of 2026-05-12 • Model: RankAlpha Sentiment Codex

Investment thesis

As of 2026-07-18

Supporting evidence

What

Grade F · Defensive

Confidence Medium · Net Neutral

Target $125.30

Why

Momentum29 · Δ7d +13.3

Value47 · Δ7d -0.3

Sentiment37 · Δ7d -7.2

So what

Weak posture (Net Neutral). Prioritize risk control and patience.

Lead driver: Value · See fundamentals

Momentum

26% active weight

Current posture

7d trendFlat

Δ7d

+13.3

Δ21d

-30.4

Value

39% active weight

Current posture

7d trendFlat

Δ7d

-0.3

Δ21d

-0.4

Sentiment

34% active weight

Current posture

7d trendSoftening

Δ7d

-7.2

Δ21d

-17.5

Why this grade

Composite grade F. Momentum 29.2 / Value 47.3 / Sentiment 37.3

Fundamentals (TTM)

As of 2026-07-20

Market Cap

$24.47B

Beta

0.89

Shares Out

253.77M

P/E (TTM) · Derived

50.2

P/S (TTM)

7.42

P/FCF (TTM)

27.81

Rev YoY

+31.7%

EPS YoY

+39.8%

Gross Margin

+84.5%

Op Margin

-3.6%

Net Debt

-$1.7B

Current Ratio

0.69

As of 2026-07-18 • Updated nightlySource: Internal modelMethodology