TD Cowen Lowers Atlassian (TEAM) Target but Sees Constructive Signals

Group 1 - Atlassian Corporation (NASDAQ:TEAM) is considered a promising stock within the QQQ index according to hedge funds, with a recent price target adjustment from TD Cowen from $205 to $175 while maintaining a Hold rating [1] - The company shows positive indicators such as momentum in Jira Service Management, cloud migrations, improved packaging options, and strong sales hiring [1] - Despite these positive signs, Atlassian has struggled to gain traction with its AI solutions, raising concerns about medium-term seat growth pressure related to AI [2] Group 2 - Investors are worried about the potential impact of AI-related growth concerns on Atlassian's future development, even though its valuation appears attractive [2] - The company offers a range of team collaboration and productivity software products, including Jira Software, Confluence, Jira Service Management, and Loom [3]