10 Best NASDAQ Stocks with Huge Upside Potential

4. Atlassian Corporation (NASDAQ:TEAM)

Number of Hedge Fund Holders: 64

Analyst Upside Potential: 43.41%

Atlassian Corporation (NASDAQ:TEAM) is one of the Best NASDAQ Stocks to Buy with Huge Upside Potential. On September 9, Morgan Stanley analyst Keith Weiss maintained a Buy rating on Atlassian Corporation (NASDAQ:TEAM), with a $320 price target.

The analyst noted that his bullish sentiment is based on the company’s move to a cloud-first model. He noted that Atlassian Corporation (NASDAQ:TEAM) plans to phase out its Data Center products by March 2029. Weiss believes this move will boost the company’s revenue and operating margins starting in fiscal 2026. He further elaborated that this will happen as the company will recognize more revenue from upfront contracts.

Therefore, Weiss expects strong growth in the company’s Cloud segment, projecting mid-teens growth beyond fiscal 2026. Moreover, Atlassian Corporation (NASDAQ:TEAM) has also launched the Atlassian Ascend program to help customers move from the Data Center to the Cloud. This initiative will help the company’s big client ensure a smooth transition.

Atlassian Corporation (NASDAQ:TEAM) is a technology company that develops software for team collaboration and project management. Its main products include Jira for planning, Confluence for content sharing, and Jira Service Management for support.