Core Insights - Sands Capital Select Growth Strategy reported a portfolio return of 6.3% (net) for Q3 2025, underperforming the benchmark's 10.5% gain, driven by strong corporate earnings and investor enthusiasm around AI [1] Company Overview - Atlassian Corporation (NASDAQ:TEAM) is highlighted as a leading collaboration software provider, enabling organizations to enhance productivity through team connectivity [2][3] - As of November 26, 2025, Atlassian's stock closed at $148.03 per share, with a market capitalization of $38.966 billion [2] Performance Metrics - Atlassian's one-month return was -7.06%, and its shares have decreased by 43.60% over the past 52 weeks [2] - In Q1 fiscal 2026, Atlassian's revenue grew 21% year-over-year to $1.4 billion [4] Business Dynamics - Concerns regarding AI potentially constraining developer headcount growth or reducing the need for workflow management software are impacting Atlassian's stock performance, despite strong business results [3] - Year-over-year sales growth for Atlassian has reaccelerated above its two-year average, driven by robust enterprise adoption and an increase in paid seats [3] - Atlassian reported 2.3 million monthly active users of its AI products, with platform interactions increasing 20 times compared to the previous year [3] Market Sentiment - Atlassian is not among the 30 most popular stocks among hedge funds, with 64 hedge fund portfolios holding its stock at the end of Q2, down from 82 in the previous quarter [4] - The company is viewed as a potential investment, but certain AI stocks are considered to offer greater upside potential with less downside risk [4]

Core Insights - Figma and Atlassian are key players in the collaboration software market, with Figma focusing on design collaboration and Atlassian on project management and team productivity [1][2] Industry Overview - The global enterprise collaboration market was valued at $54.67 billion in 2024 and is projected to reach $107.03 billion by 2030, growing at a CAGR of 12.1% from 2025 to 2030 [2] Figma (FIG) Analysis - Figma is integrating AI into its workflows, notably through the launch of Figma Make, which allows users to create prototypes and web apps using text prompts. By the end of September, about 30% of customers spending over $100,000 in annual recurring revenues were using Figma Make weekly [3] - As of September 30, 2025, Figma had 12,910 paid customers with over $10,000 in annual recurring revenues and 1,262 customers with over $100,000 in ARR. The net dollar retention for paid customers with more than $10,000 in ARR increased to 131%, up 2 percentage points sequentially [4] - Figma announced a partnership with OpenAI to launch the Figma App for ChatGPT, enabling users to convert conversations into diagrams and charts that can be shared and edited in Figma [5] Atlassian (TEAM) Analysis - Atlassian is enhancing its collaboration software with generative AI features, collaborating with OpenAI to improve Confluence, Jira Service Management, and other programs [6] - The company has signed over 500 customers spending more than $1 million annually, indicating strong enterprise penetration, particularly among Fortune 500 companies and leading banks [7] - In August 2025, Atlassian announced a multi-year partnership with Google Cloud to integrate its AI-powered teamwork platform onto Google's AI-optimized infrastructure [8] - In the first quarter of fiscal 2026, Atlassian integrated AI into its platform, with over 3.5 million monthly active users leveraging AI-powered tools, showing a growth of more than 50% since the last quarter [9] Stock Performance - In the past month, FIG shares have decreased by 35.4%, while TEAM shares have lost 10.9%. The performance difference is attributed to the rising demand for remote working tools and digital transformation [11] - FIG shares are currently trading at a forward Price/Sales ratio of 11.33X, higher than TEAM's 5.71X, indicating that both stocks are overvalued [14] Earnings Estimates - The Zacks Consensus Estimate for FIG's 2025 earnings is 41 cents per share, reflecting a 26.8% increase over the past 30 days and a year-over-year increase of 110.96% [16] - The Zacks Consensus Estimate for TEAM's fiscal 2026 earnings is $4.70 per share, which has increased by 12.9% over the past 30 days, indicating a year-over-year increase of 27.72% [16] Conclusion - Both Figma and Atlassian are positioned to benefit from the growing collaboration market, but Atlassian currently shows greater upside potential due to deeper enterprise penetration and stronger AI adoption [19] - Figma's growth prospects are considered modest, and its investments in AI-powered products may negatively impact margin expansion in the near term [19] - Atlassian holds a Zacks Rank 2 (Buy), while Figma has a Zacks Rank 3 (Hold), suggesting a stronger investment case for Atlassian [20]

Core Insights - ServiceNow is expanding its partnership with Microsoft, integrating its AI Control Tower with Microsoft Foundry and Copilot Studio to enhance enterprise-grade orchestration and governance across AI agents and workflows [2][3][4] Company Developments - ServiceNow's subscription revenue guidance for 2025 has been raised to between $12.835 billion and $12.845 billion, indicating a growth of 20% on a non-GAAP constant currency basis and 20.5% on a reported basis compared to 2024 [5] - The company is facing challenges due to tightening budgets from U.S. federal agencies, which may negatively impact subscription revenues in the fourth quarter of 2025 [5] Competitive Landscape - ServiceNow is experiencing stiff competition from Atlassian and Salesforce, with Atlassian focusing on subscription-based solutions that have seen a CAGR of approximately 40% from fiscal 2020 to fiscal 2025 [6] - Salesforce is enhancing its AI capabilities and data cloud business, reporting a 140% year-over-year increase in Data Cloud customer adoption in the second quarter of fiscal 2026 [7][8] Financial Performance - ServiceNow shares have declined by 24.6% year to date, underperforming the broader Zacks Computer and Technology sector, which has returned 25.9% [9] - The forward 12-month price/sales ratio for ServiceNow is 10.83X, significantly higher than the broader sector's 6.61X, indicating that the stock may be overvalued [10]

Core Insights - GitLab and Atlassian are pivotal in the enterprise DevSecOps and software workflow landscape, aiding engineering teams in planning, building, securing, and shipping software at scale as AI transforms code management [1][2] - The DevSecOps market is projected to grow from $10 billion in 2025 to $37 billion by 2035, with a CAGR of 14%, indicating a shift towards secure, integrated, automation-heavy DevOps tools [2] GitLab Overview - GitLab offers a unified, security-native DevSecOps platform that integrates source code, CI/CD automation, vulnerability scanning, policy enforcement, and deployment into a single environment, addressing multi-tool sprawl [4][5] - The platform's AI integration enhances automation, contextual code suggestions, and security remediation within CI/CD pipelines, reducing manual steps and accelerating secure releases [5][6] - GitLab's fiscal 2026 EPS is estimated at 83 cents, reflecting a 12.16% year-over-year increase, driven by rising demand for integrated DevSecOps automation [6] Atlassian Overview - Atlassian provides a complementary approach to DevSecOps, focusing on coordination, governance, and workflow orchestration through tools like Jira, Bitbucket, and Confluence [7][8] - Recent AI enhancements in Atlassian's tools improve issue detection, workflow optimization, and auditability, which are crucial for maintaining governance in fast-paced development cycles [9][10] - The fiscal 2026 EPS estimate for Atlassian is $4.70, indicating a 27.72% year-over-year increase, showcasing its role as a governance backbone in modern DevSecOps [10] Performance Comparison - Year-to-date, GitLab shares have declined by 24.5%, while Atlassian shares have dropped by 40.8%, indicating steadier demand for GitLab's security-native platform compared to Atlassian's broader suite [11] - GitLab trades at a forward price-to-sales ratio of 6.5X, slightly above Atlassian's 5.64X, reflecting its focused approach to end-to-end DevSecOps and stronger AI monetization potential [14] Conclusion - Both GitLab and Atlassian benefit from the increasing adoption of DevSecOps, but GitLab's unified architecture and deeper AI integration provide a competitive edge in the current market [18]

Core Viewpoint - Mayfair Gold Corp. has appointed Zayem Lakhani as Vice President of Capital Markets, which is expected to enhance the company's engagement with a broader set of investors as interest in gold investments increases [2]. Company Developments - Zayem Lakhani's appointment is part of a strategic move to capitalize on the renewed interest in gold mining investments, with generalist investors now looking to build exposure to the gold cycle [2]. - Lakhani holds 335,000 shares in Mayfair, aligning his interests with the company's success, which is a core management philosophy [2]. - Over the past 12 months, management and insiders have acquired more than C$15 million in Mayfair equity, indicating strong internal confidence in the company's prospects [2]. Compensation and Incentives - Mayfair granted 275,000 options to Zayem Lakhani and 325,000 options to key consultants, totaling 600,000 options at a strike price of $2.17, effective November 20, 2025 [3]. - The options will vest over a specified period, with one-third vesting if the executive is employed on November 20, 2026, and the remainder vesting monthly over the following two years [8]. Project Focus - Mayfair Gold is advancing its 100%-owned Fenn-Gib gold project in Ontario, which has a mineral resource estimate of 4.3 million ounces [5]. - The project is strategically located in the Timmins gold district, with plans to utilize existing infrastructure to advance towards production [5].

Core Insights - Atlassian is a software company focused on developing collaboration tools for project and IT service management, with well-known products like Confluence, Jira, and Trello that enhance team collaboration globally [1] Company Overview - Atlassian operates primarily in the software sector, providing tools that facilitate project management and information technology service management [1] - The company's products are designed to improve collaboration and efficiency among teams worldwide [1] Market Position - Atlassian's tools are widely recognized and utilized by teams across various industries, indicating a strong market presence and brand recognition [1]

Billionaire Atlassian co-founder Scott Farquhar has hardly slackened off since quitting as co-chief executive officer last year. He’s now super fit, roams the world and schedules one-on-ones with his kids https://t.co/yUVba6OdSF ...

Core Insights - Atlassian Corporation (TEAM) reported its Q1 FY26 earnings at the end of October, initially experiencing a stock price increase that was later reversed, resulting in the loss of all gains [1] Company Overview - Atlassian Corporation focuses on sustainable, growth-driven investments aimed at maximizing shareholder equity [1] Financial Performance - The earnings report for Q1 FY26 was released at the end of October, indicating a significant moment for the company [1]

Group 1 - The stock market has experienced a significant rally this year, but the gains have been unevenly distributed among investors [1] - The primary factor distinguishing winners from losers in the market is the perception of how artificial intelligence (AI) will impact various sectors [1] - Gary Alexander, with extensive experience in technology and investment, has been actively contributing insights on industry trends since 2017 [1]

Core Insights - The article highlights five AI-focused stocks in the Internet Software and Services sector that are expected to perform well in 2026, driven by increased IT spending and the growing demand for web-based infrastructure and applications [2][4]. Company Summaries Palantir Technologies Inc. (PLTR) - Palantir's AI strategy integrates its Foundry and Gotham platforms, promoting AI adoption in government and commercial sectors, with a focus on processing large datasets for real-time insights [5][6]. - The company is aligning its AI initiatives with U.S. defense priorities, showcasing its capabilities in high-profile projects like the Department of Defense's Open DAGIR [6]. - Palantir's AI Platform (AIP) has shown adaptability across various industries, with a strong customer base in government and large corporations [7][8]. - Expected revenue and earnings growth rates for Palantir are 41.1% and 43% respectively for the next year, with a 20.9% improvement in earnings estimates over the past week [9]. Snowflake Inc. (SNOW) - Snowflake is positioned to benefit from the rising demand for cloud-based data platforms, with its AI Data Cloud unifying structured and unstructured data [11]. - The cloud analytics market is projected to grow from $35.39 billion in 2024 to $130.63 billion by 2030, indicating a 25.5% CAGR, which supports Snowflake's growth trajectory [12]. - Snowflake's platform is gaining traction among large enterprises, enhancing their ability to manage data and improve customer experiences [13][14]. - Expected revenue and earnings growth rates for Snowflake are 22.3% and 33.9% respectively for the next year, with a 4% improvement in earnings estimates over the last 60 days [15]. Datadog Inc. (DDOG) - Datadog is experiencing growth due to new customer additions and increased adoption of its cloud-based monitoring platform amid digital transformation [16]. - The company unveiled over 125 new products at DASH 2025, including AI observability tools, which enhance customer engagement and competitive positioning [17][18]. - Datadog's expected revenue and earnings growth rates are 19% and 15.4% respectively for the next year, with a 0.9% improvement in earnings estimates recently [20]. Atlassian Corp. (TEAM) - Atlassian is benefiting from the demand for remote working tools, with significant adoption of its AI-powered features, showing a 25X year-over-year increase in AI interactions [21][22]. - The company's focus on generative AI features is expected to drive long-term revenue growth, particularly through collaborations with OpenAI [23]. - Expected revenue and earnings growth rates for Atlassian are 20.8% and 27.7% respectively for the current year, with a 0.6% improvement in earnings estimates recently [24]. Zoom Communications Inc. (ZM) - Zoom is capitalizing on the hybrid work trend, with AI-driven solutions like Zoom Doc and AI Companion seeing significant user growth [25][26]. - The AI Companion has achieved a fourfold increase in monthly active users year-over-year, enhancing operational efficiencies for customers [26][27]. - Expected revenue and earnings growth rates for Zoom are 3% and 0.1% respectively for the next year, with a 3.9% improvement in earnings estimates over the last 60 days [28].