1 Stock Down 21% So Far in 2026 to Buy Before It Rebounds 76%, According to Wall Street Analysts

Core Viewpoint - Anthropic's new Cowork feature has negatively impacted Atlassian's stock, which is down 21% in 2026, but analysts believe the market reaction is exaggerated and see significant upside potential for Atlassian's stock price [1][2][8] Group 1: Market Reaction and Analyst Outlook - Despite the stock decline, most Wall Street analysts maintain a positive outlook, with a median price target of $225, indicating a potential 76% upside over the next year [2] - Analysts believe the fears surrounding competition from AI services like Anthropic's Cowork are overstated, as they still project strong earnings growth for Atlassian [8] Group 2: Atlassian's AI Integration and Strategy - Atlassian is actively integrating AI features into its products, with over 3.5 million workers utilizing its AI capabilities, leading to increased engagement through third-party AI tools [5] - The company introduced Rovo, an AI agent platform, in May 2024, which aims to provide insights and generate workflows based on enterprise data, similar to the features offered by Claude Cowork [6] - Atlassian is transitioning its customer base to cloud-based subscriptions, which will reduce maintenance costs and accelerate feature rollouts, with a complete transition expected by early 2029 [7] Group 3: Competitive Landscape - The introduction of Anthropic's Cowork feature raises concerns about potential displacement of Atlassian's software, but the company is expected to maintain its market position due to significant switching costs for customers [4][6]