William Blair Reiterates Buy on Atlassian (TEAM) as Cloud and AI Drive Growth

Atlassian Corporation (NASDAQ:TEAM) is one of the AI Stocks Analysts Are Backing Right Now. William Blair analyst Arjun Bhatia has reiterated their bullish stance on the stock, giving a Buy rating on August 18. The rating affirmation is a reflection of Atlassian’s growth potential and strategic positioning.

Several growth drivers are working in favor of the stock, such as an increased emphasis on cross-selling its extensive cloud offerings and the expansion of Jira Service Management beyond traditional IT service management use cases.

Cloud migrations are also leading to a major uplift, where Atlassian is also efficiently bundling and selling prepackaged solutions personalized to different user personas. Meanwhile, the company’s fiscal 2026 guidance appears conservative, signifying potential for upward revisions as the year progresses.

According to Atlassian, artificial intelligence is having a positive impact on the business, and there seems to be no negative impact from third-party AI tools. All of these factors together reinforce the buy rating toward the stock.

Atlassian Corporation (NASDAQ:TEAM) is a global software company that designs, develops, licenses, and maintains various software products worldwide.

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.