13 Best 52-Week Low Stocks to Invest In

Page 8 of 12

5. Atlassian Corporation (NASDAQ:TEAM)

Price: $117.57

52-Week Range: $115.01 – $326.00

Number of Hedge Fund Holders: 60

​Atlassian Corporation (NASDAQ:TEAM) is one of the Best 52-Week Low Stocks to Invest In. On January 27, Karl Keirstead from UBS reiterated a Hold rating on the stock and lowered the price target from $185 to $145. Earlier, on January 20, TD Cowen also maintained a Hold rating on the stock and lowered the price target from $205 to $175.

​Analysts at TD Cowen noted that the firm is cautiously optimistic on the stock as they see some positive momentum for the business, along with AI risks that could drag growth. The firm highlighted positive factors, including strong momentum in Jira Services, strong progress in cloud migrations, and new packaging options. TD Cowen noted that these factors could help the stock with near-term share price recovery.

However, despite the positive factors, the firm noted that the company shows little traction when it comes to its AI products. These tools are meant to boost efficiency and attract users, but are not yet gaining new adoptions. The firm noted that in the future, AI can automate tasks, reducing the need for paid user seats, thereby raising concerns for the company’s core revenue driver.

​Atlassian Corporation (NASDAQ:TEAM) develops team collaboration and productivity software. It offers tools like Jira for project tracking, Confluence for documentation, and others, such as Bitbucket and Loom, all built on a unified cloud platform with AI features.

Page 8 of 12