10 Buzzing AI Stocks on Latest News and Ratings

5. 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. One of the biggest analyst calls for Tuesday, January 7^th, was for Atlassian Corporation (NASDAQ:TEAM). Truist upgraded the stock to “Buy” from Hold, boosting the price target to $300 from $250. According to the firm, there is “still room for upside from here” for Atlassian. The analysts told investors in a research note that the company is well-positioned for the year, sporting a “unique” artificial intelligence opportunity and the potential for higher profit margins. The company integrates AI in its suite of project management and collaboration tools, enhancing efficiency and team productivity. Atlassian Intelligence, in particular, offers several AI features that help teams collaborate and work efficiently. According to Truist, Atlassian sports the most favorable near-term model setup out of the companies in its infrastructure coverage.

“While at first investors feared risk of AI displacing seats in IT organizations and posing risk to Atlassian’s core business, we see the narrative shifting to acknowledge the potential for Atlassian to become a beneficiary in the AI age”.