Atlassian Corp (NASDAQ:TEAM) is one of the 13 Best Revenue Growth Stocks to Buy Right Now. On February 2, Canaccord Genuity analyst David Hynes maintained a Buy rating on Atlassian (NASDAQ:TEAM) with a price target of $230.
Zeroing in on a disconnect between Atlassian’s current valuation and its fundamentals, the analyst said the company’s stock price is down due to sector-wide multiple compression and AI-related concerns, despite its business performance, resilient growth, and improving margins. Hynes further argued that the company’s moves in pricing, product upgrades, cross-selling, and emerging consumption models can significantly improve the revenue run rate over time. Hynes said he expects fiscal Q2 revenue growth to surpass guidance, potentially enabling the company to boost full-year cloud targets. In the past month, research firms mostly lowered their price targets on the stock, with UBS cutting the price target to $145 from $185, BofA to $170 from $200, Baird to $170 from $230, Mizuho to $225 from $245, and TD Cowen to $175 from $205. Atlassian Corp. is an enterprise software company that delivers team collaboration and productivity tools. Its products include Jira Software, Confluence, Jira Service Management, and Loom. While we acknowledge the potential of TEAM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 12 Best Software Infrastructure Stocks to Buy According to Hedge Funds and Cathie Wood’s Stock Portfolio: Top 10 Stocks to Buy. Disclosure: None. This article is originally published at Insider Monkey.
