10 AI Stocks Making Waves on Wall Street

8. Atlassian Corporation (NASDAQ:TEAM)

Number of Hedge Fund Holders: 44

Atlassian Corporation (NASDAQ:TEAM) is a global software company that designs, develops, licenses, and maintains various software products worldwide. On January 15, analyst Gregg Moskowitz of Mizuho Securities reiterated a “Buy” rating on Atlassian with a price target of $285.00. Atlassian’s promising growth prospects and robust pricing power are two of the reasons for the rating upgrade. Moreover, the firm noted that Atlassian has announced significant price hikes for its on-premise Data Center products, such as Jira, Confluence, and Jira Service Management, exceeding previous expectations. The firm also pointed out Atlassian’s strategy of offering advanced technology offerings such as AI and analytics, along with a compelling suite of cloud-exclusive products. It is expected that the strategy will enable migrations from Data Centers to Cloud platforms, thereby enhancing future revenue streams.