Atlassian Corporation (NASDAQ:TEAM) is one of the 11 Best Beaten Down Growth Stocks to Buy Now.
Bernstein, on February 6, trimmed its target price on Atlassian by 4.6% to $290 (from $304) but retained its Outperform call on the stock. The firm said that while Atlassian’s Q2-2026 “was a good quarter on most dimensions,” investor concerns about the impact of artificial intelligence could prove to be a challenge. Nonetheless, Bernstein is convinced that TEAM has enough of a moat and can survive the industry disruption from generative AI.
The updated target price comes right after Atlassian released its Q2-2026 results on February 5. The report showed revenue growth accelerating to 23.3% YoY in Q2-2026 (vs. 20.6% in Q1-2026), with total quarterly revenue reaching $1.59 billion. The data center and marketplace segments drove this acceleration, with growth rates in these segments accelerating to 20.4% (from 11.0% in Q1-2026) and 9.1% (from 3.3% in Q1-2026) YoY, respectively. The cloud segment, meanwhile, saw steady growth of 26.0% YoY (from 26.0% in Q1-2026).
Due to the strong 2nd quarter performance, Atlassian’s management has raised its guidance for the rest of the fiscal year. They now expect FY2026 revenue growth to average out to ~22% (Cloud: 24.3%, Data Center: 20.0%, and Marketplace: 6.0%).
Atlassian Corporation (NASDAQ:TEAM) is a software-as-a-service company that focuses on team collaboration and productivity software such as Jira, Confluence, and Loom. The company is based in San Francisco, California, and was founded in October 2002 by Michael Cannon-Brookes and Scott Farquhar.
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Disclosure: None. This article is originally published at Insider Monkey.
