Atlassian (TEAM) is trading lower at $82.53 (-1.29%), tracking a broader market decline despite recently reporting record-breaking fiscal Q2 cloud revenue and strong growth for its Rovo AI platform.
- The company achieved its first $1 billion cloud revenue quarter and a $6 billion annual run rate, supported by Rovo AI surpassing 5 million users.
- Analysts remain optimistic about long-term value, projecting a potential upside to $118 by 2028 or an estimated fair value of $204.74.
- The stock is currently trading at $82.53 (-1.29%) as it follows subdued market sentiment influenced by geopolitical tensions and Fed hawkishness.