NEW YORK, May 30, 2026, 09:16 (EDT)
- Atlassian ended Friday at $107.61, gaining 15.35%. Shares were at $108.50 after the bell.
- The Nasdaq is closed Saturday, following a holiday-shortened week in U.S. markets. Markets run on a normal Monday-to-Friday schedule, 9:30 a.m. to 4 p.m. Eastern, according to .
- Software stocks moved up after gains in Snowflake and tech helped calm some worries that AI could damage existing software firms.
Atlassian Corp. heads into next week up after a strong Friday rally. Shares of the collaboration-software maker finished the short week up about 26% from the May 22 close through Friday. The stock surged 15.35% Friday to end at $107.61, its biggest jump of the week, and then traded higher after hours.
Timing is key. U.S. software stocks, hit earlier this year as fears spread that artificial intelligence could eat into their regular subscription sales, rebounded with investors shifting focus to firms seen as potential AI winners. According to Reuters, a software-services index jumped more than 6% on Friday. The Nasdaq Composite added 0.21% for the day and closed the week up 2.39%.
U.S. stock markets didn’t trade Saturday. Markets were also closed Monday for Memorial Day. Nasdaq’s standard hours run from 9:30 a.m. to 4 p.m. Eastern on normal weekdays unless it’s a holiday.
Atlassian shares barely moved early in the week and then picked up steam. The stock dipped Tuesday, then climbed 4.9% Wednesday, added another 4.7% Thursday, and jumped again Friday. Closing data show Friday’s volume well above recent days.
Atlassian’s numbers gave the stock support. In its most recent quarter, the company reported a 32% jump in revenue from a year ago to $1.79 billion. Cloud revenue increased 29%, and remaining performance obligations climbed 37% to roughly $4.0 billion. Co-founder and CEO Mike Cannon-Brookes said customers are signing “bigger, longer-term commitments.” CFO James Chuong said cloud growth picked up speed. Q4 Capital
Atlassian brought up annual recurring revenue, or ARR, calling it out in its latest pitch as a key subscription number. The company said its Service Collection business now has more than $1 billion in ARR and is up over 30%.
Snowflake (SNOW) jumped more than 33% Thursday after the company’s annual revenue forecast went up and it said it has a $6 billion deal with Amazon Web Services. Matt Britzman, a senior equity analyst at Hargreaves Lansdown, said Snowflake is “how quickly sentiment can turn” when AI moves the top line. Reuters
Dell raised its outlook, sending AI hardware and software stocks higher. The broader tech mood was bullish too. “There’s definitely euphoric sentiment in the market around AI,” Ohsung Kwon, chief equity strategist at Wells Fargo, told Reuters. Reuters
Atlassian wants to be in the same spending category. At a Jefferies software event, CFO Chuong called the company “well diversified” and said AI will make it easier to create code and workflows, which he thinks will drive demand for team-based context and workflow tools. He noted customers for Teamwork Collection are using more AI credits and rolling out more agents than standalone users. Aktien Guide
But the risk hasn’t gone away. Salesforce gave a second-quarter revenue forecast this week that came in below Wall Street expectations, raising fresh concern about AI disrupting the typical seat-based software model, where firms bill by user. Rebecca Wettemann, CEO of Valoir, told Reuters the next few quarters will be key for Salesforce to show the value of that model and its Agentforce AI tool.
Atlassian faces more than a slowdown in AI spending if things turn south. The risk is that investors focus on chip, cloud and data-platform companies as the main AI winners. Workflow-software firms like Atlassian need to show their AI tools can actually boost billings, keep users, and let them charge more—all without demand slipping.
Macro data takes the focus this week with the U.S. jobs report set for June 5. Economists in a Reuters survey see 85,000 jobs and unemployment at 4.3%. Liz Ann Sonders from Schwab Center for Financial Research said a hotter jobs print with climbing inflation could push Fed policy expectations.
Atlassian’s next step is likely tied more to how Friday’s software rally holds up against a jobs report, changes in bond yields, and more AI earnings than to any single company news. The stock has bounced from its lows, but it’s still far from the 52-week high.
