Why Atlassian Corporation (TEAM) Skyrocketed on Friday?

We recently published a list of 10 Firms Buck Market Slump on Impressive Earnings, New Deals. In this article, we are going to take a look at where Atlassian Corporation (NASDAQ:TEAM) stands against other firms buck market slump on impressive earnings, new deals.

The stock market ended the trading week in the red territory following President Donald Trump’s announcement that he would begin slapping tariffs against major US trading partners.

The Dow Jones shed 0.75 percent, the S&P 500 lost 0.50 percent, while the Nasdaq Composite dropped by 0.28 percent.

Ten companies bucked a wider market decline amid a flurry of positive catalysts that sparked buying appetite. In this article, we will take a look at which companies posted notable gains and explore the reasons behind their performance.

To come up with Friday’s gainers, we only considered those with $2 billion in market capitalization and $5 million in daily trading volume.

A group of executives in a board room discussing the latest software innovation.

Atlassian Corporation (NASDAQ:TEAM)

Atlassian Corporation (NASDAQ:TEAM) jumped by 14.92 percent on Friday to finish at $306.78 each after posting improved earnings performance for the second quarter of fiscal year 2025.

Late on Thursday, Atlassian (NASDAQ:TEAM) said it was able to narrow its net loss by 55 percent to $38.2 million from the $84.5 million registered in the same period a year ago.

Net loss per diluted share was $0.15 for the second quarter of fiscal year 2025, compared with a net loss per diluted share of $0.33 for the second quarter of fiscal year 2024.

Revenues were higher by 21 percent at $1.29 billion versus the $1.06 billion year-on-year.

However, operating loss was higher by 17 percent at $57.5 million versus $49.1 million.

For the next quarter of fiscal year 2025, Atlassian Corp. (NASDAQ:TEAM) expects revenues to settle between $1.34 billion and $1.35 billion, with the cloud business expected to contribute a significant chunk of the total figure at 23.5 percent, and the data center at 7 percent.

Overall, TEAM ranks 3rd on our list of firms buck market slump on impressive earnings, new deals. While we acknowledge the potential of TEAM as an investment, our conviction lies in the belief that 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 but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.