Jim Cramer Says "Atlassian's Really in the Crosshairs"

Atlassian Corporation (NASDAQ:TEAM) is one of the S&P 500 and Nasdaq-100 stocks Jim Cramer commented on. Cramer highlighted why the stock has been seeing a decline. He stated:

“Third worst performing in the Nasdaq-100 was a company called Atlassian, symbol… TEAM, down over 33%. Now, this collaboration software play is a proxy for enterprise software sector as a whole. The whole industry has been shaken up by AI because these platforms are genuinely great at writing code, making many companies more willing to develop software in-house and not needing assistance from a company like Atlassian. At the same time, many of the cloud software players charge per user, and if AI makes those users more efficient, then customers won’t need to pay for as many people. Atlassian’s really in the crosshairs here because its software exists to help software engineers collaborate. If you want to bet on an enterprise software comeback in 2026, this is not the one to go to. Go to Salesforce, okay? Had a nice bounce today.”

Atlassian Corporation (NASDAQ:TEAM) develops collaboration and productivity software that connects teams and streamlines workflows.

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