NAS10030,808+1.00%S&P7,723+0.73%GOLD$4,196+0.81%BTC$86,156−0.37%VIX16.35+6.79%live tape · as of 09:01 UTC
The Screen · Technology · Software - Application
Atlassian Corp
TEAM · NASDAQ · USD · Market cap $48.6B · 13,813 employees
Atlassian Corporation provides a collaboration software that enables organizations to connect all teams through a system of work that unlocks productivity at scale worldwide.
FAIL · Does not pass the screen
192.02 USD
Screen close, 2026-09-18 · not a live quote Last reviewed 17 days ago
Screened 2026-09-18 · the tape above runs as of 09:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 192.02 against the desk's fair-value range, base estimate 177.66, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price192.02 USD
Fair value177.66
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Distribution192.02+0.0% to today
2026-07-02Read Markup88.52+116.9% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Atlassian Corp holds its Distribution at $192.02. Consolidating, no directional conviction, held for 35 days.
As held on the ledger · 2026-09-18
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 35 days
Price at the screen
$192.02
Valuation
N/A trailing · 28.48 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.16
The Workings
Five Screens, Shown in Full
Does not pass. Accounts receivable
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
20.51%
Below 33%
Interest-bearing debt is just 20.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
3.67%
Below 33%
Cash held in interest-bearing accounts and securities is 3.7% of assets, under the one-third limit.
Pass
Receivables
54.47%
Below 49%
Money owed to the company is 54.5% of assets, above the 49% limit.
Fail
Revenue purity
2.15%
Below 5%
Only 2.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Atlassian's business is fine, but its receivables are about 54% of its assets, just over the ~49% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-18 screen. The gold marker is the market price at the same screen. The price runs 7.5% above the base estimate.
Third-party analyst targets: 31 covering, consensus Buy. The average target sits −6% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Jira runs teams yet delivers no profit
Picture a workshop where every tool works smoothly yet the owner still posts losses each quarter. Atlassian supplies the collaboration software that teams worldwide depend on, from Jira project tracking to broader workflow platforms, and revenue is rising 32 percent. The forward multiple sits at 15.1 times, a margin of safety appears on paper, and the ethical screen clears, yet the opportunity rating stays at none.
We pass because the business is not making money. Profit margins sit at minus 4 percent and return on equity is minus 19 percent, so the narrow moat has not yet translated into sustainable returns. Thirty analysts may carry a buy consensus with a median target of 115 dollars, but those figures ignore the simple fact that cash is still flowing the wrong way.
The real risk is that rapid growth masks a value trap if the losses persist. Currency moves, competition in cloud tools, and the need to reach consistent profitability all sit outside the current multiple. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Australia and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TEAM trades on NASDAQ (the company is based in Australia). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 3.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 57%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (30 analysts) rates it buy, with a mean price target of $141.
2026-09-14Markup$186.44+86.5%Entry 5
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 86.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 57%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (30 analysts) rates it buy, with a mean price target of $141.
2026-08-14Markup$99.98+12.9%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 12.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 57%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (30 analysts) rates it buy, with a mean price target of $141.
2026-07-18Markup$88.52+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 57%. Our forward projection puts the odds of a 10% gain over the next month near 25%. The street (30 analysts) rates it buy, with a mean price target of $141.
2026-07-03Markup$88.52+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markup$88.52Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
