Zacks Investment Research downgraded Atlassian (NASDAQ:TEAM) from a hold to a strong sell rating on February 13, 2026.
The downgrade occurred despite the company exceeding revenue and earnings estimates for the second quarter of fiscal year 2026.
Significant stock price declines and heavy insider selling throughout 2026 drove the rating change. Reports from early February 2026 show the company's co-founders sold thousands of shares each. These transactions align with a broader trend of insider divestment over the previous quarter.
Several other investment firms recently lowered their price targets for the software company. Wall Street maintains a Moderate Buy consensus rating for Atlassian despite these individual downgrades.