TEAM

AtlassianC

Nasdaq / Software & Services

At close

2026-06-02

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

Mixed

Lead driver

Momentum

What changed

Momentum remains the lead driver in the composite, 7D delta +16.8.

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 2026-06-02

Fundamentals

As of 2026-06-01 • Vendor: Data Vendor v1

Scores

As of 2026-06-02 • Model: HYBRID_IC_RP

AI Memo

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

Investment thesis

As of 2026-06-02

Supporting evidence

What

Grade C · Mixed

Confidence Medium · Net Neutral

Target $174.19

Why

Momentum81 · Δ7d +16.8

Value47 · Δ7d -1.5

Sentiment26 · Δ7d -24.3

So what

Balanced signals (Net Neutral). Wait for confirmation before sizing up.

Lead driver: Momentum · See technicals

Momentum

34% active weight

Current posture

7d trendImproving

Δ7d

+16.8

Δ21d

+35.3

Value

32% active weight

Current posture

7d trendSoftening

Δ7d

-1.5

Δ21d

-1.3

Sentiment

33% active weight

Current posture

7d trendSoftening

Δ7d

-24.3

Δ21d

-77.9

Why this grade

Composite grade C. Momentum 80.8 / Value 47.0 / Sentiment 26.3

Fundamentals (TTM)

As of 2026-06-01

Market Cap

$29.42B

Beta

0.89

Shares Out

263.11M

P/E (TTM) · Derived

58.2

P/S (TTM)

7.42

P/FCF (TTM)

27.81

Rev YoY

+20.6%

EPS YoY

+58.5%

Gross Margin

+82.9%

Op Margin

-3.6%

Net Debt

-$1.95B

Current Ratio

1.26

As of 2026-06-02 • Updated nightlySource: Internal modelMethodology