12 Best Enterprise Software Stocks to Buy Now

7. Atlassian Corp. (NASDAQ:TEAM)

Number of Hedge Fund Holders: 75

Atlassian Corp. (NASDAQ:TEAM) designs, develops, and licenses various software products worldwide. Its product portfolio includes Jira, which includes a project management system. It offers Confluence, which is a connected workspace. It also has Loom, which is a video communication tool; and Trello, which captures and adds structure to fluid and fast-forming work.

On March 20, Stephens initiated coverage of the company with an Equal Weight rating and a $255 price target. This was due to the company’s broad TAM and database for team organization which is essential for AI optimization. The company’s enterprise software segment is focused on its cloud-based platform and AI-driven tools. In FQ2 2025, the company made over $5 billion in annual run-rate revenue while the subscription revenue grew by 30% year-over-year.

Atlassian Corp. (NASDAQ:TEAM) is serving enterprise customers through AI innovation. Over 1 million monthly active users utilize the Atlassian Intelligence features. This led to a 25x year-over-year increase in AI interactions. The company’s AI capabilities fuel the adoption of premium and enterprise editions due to improved automation and analytics. In FQ2, the sales of higher-value SKUs were up 40%. It secured a record number of deals in the quarter which exceeded $1 million in annual contract value.

Hardman Johnston Global Equity Strategy stated the following regarding Atlassian Corporation’s (NASDAQ:TEAM) performance in its Q4 2024 investor letter:

“The top individual contributors to relative performance during the quarter were Atlassian Corporation (NASDAQ:TEAM), Standard Chartered, and Howmet Aerospace. Shares of Atlassian recovered sharply in the fourth quarter, driven by strong outperformance in Cloud and Data Center revenue growth and operating margins exceeding guidance by 360 bps. Paid seat expansion and cloud migrations led the earnings beat at the collaborative software maker, as management indicated that the macroeconomic environment has remained stable sequentially. Atlassian demonstrated a strong pace of innovation in the quarter, rolling out three new Premium versions of existing products, including Guard, Product Discovery, and Compass, plus two new out-of-the-box AI agents in Autodev and Autoreview to enhance engineering workflow efficiency. Additionally, Atlassian appointed its new CRO, Brian Duffy, whose background in the cloud division at SAP serves as a potential catalyst to scaling Atlassian’s enterprise go-to-market sales approach.”