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    Should Cloud Upselling Require Action From Atlassian (TEAM) Investors?

    Simply Wall St·10/23/2026 14:34:21
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    • Atlassian has recently drawn attention after analysts highlighted the role of its Cloud platform, Teamwork Graph, Teamwork Collection, Model Context Protocol Server, and Jira Service Management in driving cross selling and upselling, ahead of its fiscal Q1 earnings update scheduled for 5 November 2026.
    • An important angle is how higher Cloud pricing and new usage based features such as Rovo metering could push more customers toward migrations and Teamwork Collection upgrades. This could create fresh opportunities to deepen Atlassian’s relationships across existing client budgets.
    • We will now look at how Atlassian's investment narrative could be influenced by stronger cloud cross selling momentum and upcoming earnings.

    See how Atlassian’s Cloud push compares with other software players by reviewing a curated set of 29 high quality undervalued stocks that also lean on recurring revenue and platform upsell potential.

    Atlassian Investment Narrative Recap

    To hold Atlassian, you need to believe its cloud platform can keep pulling more teams, more workloads, and more budgets into one system of work. The current focus on Teamwork Graph, Teamwork Collection, and Jira Service Management fits that idea, because they sit where cross selling, usage based add ons, and price mix can all show up in near term numbers.

    Right now, the key swing factor is how quickly complex Data Center customers move to Cloud and adopt metered features such as Rovo. The biggest risk is that migrations prove slower or messier than hoped, while AI and teamwork products drive usage but not meaningful monetization, which could leave earnings improvement lagging revenue.

    Among the recent updates, Rovo metering looks most directly tied to the current catalyst debate. Usage based pricing gives Atlassian another way to align what customers pay with how deeply they embed tools into workflows, especially when layered onto Teamwork Collection bundles and broader platform adoption.

    For you as an investor, the question is whether these AI infused and metered services convert into healthier net expansion without straining budgets or elongating deals. If customers resist higher cloud pricing or dial back seats because of AI productivity gains, then the same levers that support upsell potential could also magnify churn and deal pushouts.

    What The Current Atlassian Forecasts Assume

    Atlassian's narrative projects US$10.0b revenue and US$789.1m earnings by 2029. That profile builds on analysts assuming 14.9% yearly revenue growth and an earnings swing of roughly US$843m from a loss of US$53.8m today.

    Uncover why Atlassian's fair value indicates a 5% potential downside to its current price, which leaves little room for error.

    NasdaqGS:TEAM 1-Year Stock Price Chart
    NasdaqGS:TEAM 1-Year Stock Price Chart

    Exploring Other Perspectives

    Some of the most optimistic Atlassian views lean hard into Rovo and Teamwork Collection as an earnings engine, with bullish analysts previously pencilling in US$11.2b of revenue and US$968.7m of earnings by 2029. That is far above the baseline and shows how sharply opinions can differ. With the latest cloud news, those narratives may shift again. Treat this as a prompt to explore several competing forecasts rather than a single script.

    Explore 9 other Atlassian fair value estimates, including one that suggests potential upside of up to 47% from the current price.

    Reach Your Own Conclusion

    Don't just follow the ticker. Dig into the data and build a conviction that's truly your own.

    Looking For More Investment Ideas Beyond Atlassian?

    Once you have formed a view on Atlassian, it can help to compare that thesis with other opportunities that fit different risk, income, or balance sheet profiles. The Simply Wall St Screener gives you that broader field of options in a structured way so you can pressure test your thinking, not just react to a single stock story.

    • If you want potential income plus resilience, consider companies that appear as 6 dividend fortresses and see which ones match your own tolerance for volatility and payout quality.
    • If capital preservation matters more to you than chasing every swing, review the 30 resilient stocks with low risk scores and focus on businesses with steadier fundamentals and fewer red flags.
    • If you are hunting for opportunities that the market may not be fully focused on yet, scan the 20 high quality undiscovered gems to spot candidates for deeper research before they are widely discussed.