Wells Fargo Begins Coverage of Atlassian Corporation (TEAM) with "Overweight" Rating and $216 PT

RIT Capital Partners holds $30,403,742 worth of Atlassian Corporation (NASDAQ:TEAM) shares, representing 3.81% of its portfolio. With this, the company secures a spot on our list of billionaire Jacob Rothschild’s RIT Capital Partners: 9 stocks with huge upside potential.

On September 30, 2025, Wells Fargo began coverage of Atlassian Corporation (NASDAQ:TEAM) with an “Overweight” rating and a $216 price target.

The investment firm included Atlassian Corporation (NASDAQ:TEAM)’s expanding cloud adoption, AI integration, and deep enterprise positioning as key growth drivers. Furthermore, the company’s long-term revenue visibility is expected to be strengthened by its ongoing shift to the cloud, alongside robust cross-sell potential across Jira, Trello, and Confluence.

Amid AI-driven development and collaboration, Wells Fargo sees Atlassian Corporation (NASDAQ:TEAM)’s role as a “control tower,” reinforcing its competitive edge. Meanwhile, the investment firm highlighted the company’s push to deepen AI capabilities and expand platform intelligence, as seen through its recent $1 billion acquisition of engineering intelligence company DX and its $610 million acquisition of The Browser Co.

Atlassian Corporation (NASDAQ:TEAM) is engaged in the design and sale of collaboration and project management software. It is included in Jacob Rothschild’s RIT Capital Partners’ Stock Portfolio.

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.