Atlassian Corporation (TEAM) Lifts Annual Revenue Forecast

Atlassian Corporation (NASDAQ:TEAM) is one of the 8 Most Undervalued AI Stocks to Buy According to Hedge Funds.

On May 1, 2026, Reuters reported that Atlassian Corporation (NASDAQ:TEAM) raised its annual revenue growth forecast to about 24% from 22%. The firm is counting on AI-driven features and the enterprise segment to sustain growth. The company beat quarterly expectations, reporting revenue of $1.79 billion as compared to $1.69 billion estimated by LSEG. It also posted adjusted EPS of $1.75 against $1.32 expected, Reuters reported.

Shares jumped more than 18% in extended trading. CFO James Chuong told Reuters that cloud revenue grew by 29% year over year, pointing to strong seat expansion in Jira along with rising usage of AI features.

Reuters said demand for core products like Jira remained solid because of deep enterprise integration, even though customer budgets softened. The growth also benefited from shifts to cloud and data center offerings. The corporation cut roughly 10% of its workforce, or 1,600 roles, in March to refocus on AI and enterprise sales.

Atlassian Corporation (TEAM) Lifts Annual Revenue Forecast

Atlassian Corporation (NASDAQ:TEAM) is a holding company that provides team collaboration and productivity software. Its products include Jira Software, Confluence, Jira Service Management, and Loom.

While we acknowledge the risk and potential of TEAM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TEAM and that has 10,000% upside potential, check out our report about the cheapest AI stock.

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