Bernstein Trims Target Price on Atlassian (TEAM) to $290

Atlassian Corporation (NASDAQ:TEAM) is 1 of the 11 Best Beaten Down Growth Stocks to Buy Now.

Bernstein, connected February 6, trimmed its people terms connected Atlassian by 4.6% to $290 (from $304) but retained its Outperform telephone connected the stock. The steadfast said that portion Atlassian’s Q2-2026 “was a bully 4th connected astir dimensions,” capitalist concerns astir the interaction of artificial quality could beryllium to beryllium a challenge. Nonetheless, Bernstein is convinced that TEAM has capable of a moat and tin past the manufacture disruption from generative AI.

The updated people terms comes close aft Atlassian released its Q2-2026 results connected February 5. The study showed gross maturation accelerating to 23.3% YoY successful Q2-2026 (vs. 20.6% successful Q1-2026), with full quarterly gross reaching $1.59 billion. The information halfway and marketplace segments drove this acceleration, with maturation rates successful these segments accelerating to 20.4% (from 11.0% successful Q1-2026) and 9.1% (from 3.3% successful Q1-2026) YoY, respectively. The unreality segment, meanwhile, saw dependable maturation of 26.0% YoY (from 26.0% successful Q1-2026).

Due to the beardown 2^nd quarter performance, Atlassian’s absorption has raised its guidance for the remainder of the fiscal year. They present expect FY2026 gross maturation to mean retired to ~22% (Cloud: 24.3%, Data Center: 20.0%, and Marketplace: 6.0%).

Atlassian Corporation (NASDAQ:TEAM) is simply a software-as-a-service institution that focuses connected squad collaboration and productivity bundle specified arsenic Jira, Confluence, and Loom. The institution is based successful San Francisco, California, and was founded successful October 2002 by Michael Cannon-Brookes and Scott Farquhar.

While we admit the imaginable of Atlassian Corporation (NASDAQ:TEAM) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you’re looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.