Atlassian Corporation

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to Jun 2026, United States was 42% and Other EMEA was 30% of revenue.

Quarters: Atlassian Corporation's SEC filings, named by the month they end. Fiscal years: Atlassian Corporation's annual reports to the SEC.

How it makes money

The company loses $0.8 for every $100 of revenue.

Each margin is that line of the income statement divided by revenue. Fiscal year: Atlassian Corporation's annual reports to the SEC; quarters: SEC filings.

Growth and margins together

Rule of 40 score 47.8 (growth 23.7% + FCF margin 24.1%): strong, clears the 40 line. Stock pay is 23.3% of revenue; counted as a cost, it brings the FCF margin down to 0.8%.

Atlassian trades at 5.6× revenue on 23.7% growth. SNOW grows fastest of its peers, 35.1%, and costs 19.4×.

Growth: revenue in the quarter ended Sep 2026 against the quarter ended Sep 2025. FCF margin: operating cash flow minus capex, over revenue, for the 4 quarters ended Sep 2026. From SEC filings.

Customers and suppliers

Changes since the previous annual report (10-K filed Aug 15, 2025)

Dropbox DBXNo longer named (was a partner)

Microsoft MSFTNo longer named (was a partner)Salesforce CRMNo longer named (was a partner)Workday WDAYNo longer named (was a partner)Zoom Communications ZMNo longer named (was a partner)

Named in other companies’ filings

Figma FIGcalls it a partner · Product integrations and workflow collaborationZoom Communications ZMcalls it a partner · Zoom Workplace integrations

Only the companies Atlassian names in its 10-K filed Aug 14, 2026 (SEC). Named in other companies' filings: those whose own latest annual report or an 8-K since names Atlassian. Hover a name for the filing's own words.

Is it expensive?

EV/revenue of 5.6x, below the peer median of 7.0x.

EV/revenue below the peer median of 7.0x: cheaper than its peers.

Compared on enterprise value (market cap plus debt minus cash) per $1 of revenue: for companies that reinvest what they earn or borrow to grow (software, AI data centers), P/E can mislead.

What analysts expect

The average analyst price target is $217, 42% above the current price; 82% of 33 analysts rate it a buy; earnings beat estimates in all of the last 4 quarters.

Buy or Strong Buy: 27 analysts (82%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $226.94 to $208.35 (−8%), while TEAM went from $152.05 to $152.29 (0%). In the past three months targets were raised 20 times and cut 7 times. No upgrades and 1 downgrade over the year; the latest: BWG Global moved it to Mixed from Positive on Apr 17, 2026.

The day after each of these reports the stock moved −9.8% (Dec 2025, beat); +26.1% (Mar 2026, beat); +31.5% (Jun 2026, beat); −19.1% (Sep 2026, beat).

For the quarter ending Dec 2026 (Atlassian reports on Feb 4, 2027), analysts expect adjusted earnings of $1.35 a share, 11% more than the $1.22 of a year earlier, and revenue of $1.8B, up 16% on a year earlier. For the fiscal year ending Jun 2027, they expect adjusted earnings of $5.48 a share, and revenue of $7.5B, up 14% on the year before.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $1.7B in free cash flow over the year and returned more than it generated: $2.1B went back to shareholders (dividends plus buybacks), so $470M came from cash on hand or borrowing.

Atlassian had 257M diluted shares in the quarter ended Sep 2026, 2.3% fewer than a year earlier, and 0.3% more each year on average since Dec 2021. It spent $2.1B on buybacks over the last four quarters.

Free cash flow: operating cash flow minus capital spending on property, plant and equipment, from SEC filings, for the last 4 quarters and by quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 0.8, short-term debt coverage is tight; debt-to-equity 0.9, debt is moderate.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 1 member of Congress and 6 funds whose copy leaves TEAM out (on the exchange, not in the app yet): Voyager Global Management, Baillie Gifford &, Swiss National Bank, Mirae Asset Global Investments, Canada Pension Plan Investment Board, Rob Bresnahan and 1 more.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 12 held TEAM at the end of their latest quarter (for most, Q2 2026). Over that quarter 3 added shares, 9 cut and 1 sold all. The largest of them is Baillie Gifford &, 3.44M shares worth $617M at Sep 30, 2026, 6.0% fewer than a quarter earlier.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of TEAM at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.

Are insiders buying or selling?

Officers and directors bought $2.3M and sold $125M of TEAM on the open market in the 12 months to Nov 13, 2026. 100% of the sales were made under 10b5-1 plans, set up in advance. The largest was Michael Cannon-Brookes (CEO, Co-Founder; director), who sold $63.4M in 305 sales.

From the Form 4s filed with the SEC about Atlassian Corporation (167 in the 12 months): purchases (code P) and sales (code S) on the open market by its officers and directors, at the price each filing gives (often an average of the day's trades). A sale is a 10b5-1 sale when its filing says it was made under such a plan, set up in advance. Not counted: 180 other transactions (grants, shares sold to pay tax and other transfers).