10 AI Stocks Making Waves on Wall Street

7. Atlassian Corporation (NASDAQ:TEAM)

Number of Hedge Fund Holders: 64

Atlassian Corporation (NASDAQ:TEAM) is one of the 10 AI Stocks Making Waves on Wall Street. On October 22, Canaccord Genuity reiterated its Buy rating on the stock with a price target of $230.00.

According to the firm, Atlassian is a “best-in-class asset” executing initiatives to move Data Center customers to Cloud deployments. This is likely to generate pricing increases. The company is expanding both horizontally beyond technical use cases and vertically into larger enterprise markets.

Its recent acquisitions will allow it to strengthen its platform value proposition and boost greater AI adoption and usage. New consumption-based pricing terms will help to monetize them.

Overall, the firm is bullish on the stock, considering its “favorable strategic positioning following these acquisitions and near-historically low valuation.”

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