Here's What the Wall Street Thinks About Atlassian Corporation (TEAM)

Atlassian Corporation (NASDAQ:TEAM) is one of the Tech Stocks to Buy with the Highest Upside Potential. Atlassian Corporation (NASDAQ:TEAM) has been making headlines since it announced a multi-year partnership with Google Cloud on August 7, to boost cloud adoption and AI capabilities for customers globally. Moreover, the company has also been on Wall Street’s radar since the FQ4 2025 earnings release, topping revenue and EPS estimates by $27.74 million and $0.13, respectively.

Atlassian Corporation (NASDAQ:TEAM) delivered $1.384 billion in quarterly revenue, reflecting a 22% growth year-over-year. Management noted that this was driven by a 26% growth in Cloud revenue. Notably, the company had 2.3 million AI monthly active users, and its AI business is expected to further strengthen its footing with its multi-year partnership with Google Cloud. Under the partnership, the company’s apps, like Jira, Confluence, and Loom, will run on Google Cloud’s AI-optimized platform, thereby making it easier for businesses to use the platform and giving the company a significant boost in monthly active users.

Despite these positive developments, Wall Street remains cautious on the stock as the company gave softer FY2026 guidance. On August 11, Stephens lowered the firm’s price target on Atlassian Corporation (NASDAQ:TEAM) from $221 to $202, while keeping an Equal Weight Rating. The firm noted AI-driven headwinds as one of the key reasons behind a cautious stance. More recently, on August 18, Citi analyst Fatima Boolani also lowered the firm’s price target on the stock from $300 to $240, while maintaining a Buy rating on the stock.

Atlassian Corporation (NASDAQ:TEAM) is a technology company that creates software tools to help teams collaborate, manage projects, and boost productivity.

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.

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