Analysts Say AI Is Not the ‘Death Knell’ for Atlassian (TEAM) Stock

Core Viewpoint - Atlassian Corporation (NASDAQ:TEAM) is highlighted as a key AI stock to monitor, with Guggenheim initiating coverage with a Buy rating and a price target of $225, indicating a potential upside of 30% [1][3] Company Performance and Strategy - Atlassian has over 300,000 customers for its collaboration products like Jira and Confluence, and is expanding into service management and AI workflows, which supports its "System of Work" strategy [3] - The company is expected to achieve a long-term target of $10 billion in revenue by FY29, with current penetration of its global addressable market at most 20% [4] Market Sentiment and Growth Projections - Despite concerns regarding AI's impact on entry-level job growth, particularly for software developers, the global developer headcount is still rising, suggesting continued user growth for Atlassian [2][4] - Cloud revenue is projected to grow by 25% in FY26, with total revenue re-accelerating to 22%, surpassing consensus estimates [4]