Atlassian ($TEAM) shares rose 4.30% to $95.16 today, rebounding from a sharp 20% weekly drop as the broader tech sector rallied.
- Earnings Beat: Q2 FY2026 revenue hit $1.586B (up 23%) with an EPS of $1.22, significantly outperforming the $0.73 analyst estimate.
- Cloud Momentum: Cloud revenue grew 26% to $1.067B, driven by strong adoption of the Teamwork Collection AI suite which now serves over 1M seats.
- Valuation Outlook: Despite recent pressure from insider selling and AI competition concerns, the stock found support after Jim Cramer described the current valuation as "absurdly cheap" following its technical oversold conditions.