Mizuho Trims Atlassian (TEAM) Price Target, Maintains Buy Rating

Atlassian Corporation (NASDAQ:TEAM) is one of 10 AI stocks that will skyrocket.

Mizuho has lowered its price target on Atlassian Corporation (NASDAQ:TEAM) to $325 from $355, while maintaining an Outperform rating following the company’s recent user conference. The adjustment reflects what the firm describes as a “meaningful recent contraction” in comparable valuation multiples, driven by broader market concerns and an increased likelihood of a recession.

In a research note to investors, Mizuho emphasized that while macroeconomic uncertainty has impacted near-term sentiment and sector valuations, it continues to view Atlassian’s long-term fundamentals positively. The firm said the company’s growth trajectory remains underappreciated and believes Atlassian is well-positioned to outperform peers over a multi-year horizon. Atlassian Corporation (NASDAQ:TEAM), known for its collaborative software tools including Jira, Confluence, and Trello, has seen consistent demand from both large enterprises and smaller development teams. Mizuho pointed to the company’s ongoing investments in cloud migration, product innovation, and AI-enhanced features as drivers of future revenue and customer expansion.

Despite the revised price target, the Outperform rating signals confidence in Atlassian’s ability to navigate macro challenges while continuing to grow its user base and improve profitability. Mizuho maintains that Atlassian’s combination of product breadth, customer loyalty, and long-term margin potential sets it apart from many competitors in the enterprise software space.

While we acknowledge the potential of TEAM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TEAM and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.