1 Software Stock to Buy Before It Doubles, According to Select Analysts | Atlassian Shares Jump 8…

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1 Software Stock to Buy Before It Doubles, According to Select Analysts

2026 has not been kind to software stocks. Fears that more companies will use generative AI products for a broader set of software needs have led many analysts to rerate earnings multiples for companies that rely on the typically predictable software-as-a-service (SaaS) model.

One of the hardest-hit companies in the sector is Atlassian (TEAM +8.26%), which saw its stock drop almost 90% from its all-time high. Shares have started to recover, but one analyst still sees significant upside. In fact, Piper Sandler's team thinks the stock can double from here, recently setting a share price target of $175.

That's not an unreasonable expectation either, as Atlassian benefits from high retention rates and multiple tailwinds that can drive earnings growth through the end of the decade, despite the challenge posed by artificial intelligence (AI).

Atlassian Shares Jump 8% on Friday, Eyes on Monday for AI Interest

Atlassian shares jumped 8.16% to $87.46 on Friday, snapping back from earlier losses, while the rest of tech stumbled. Still, TEAM closed the week down roughly 4.5% from where it stood at $91.60 after the May 8 session.

Timing is key. Investors want to see if Atlassian’s AI push turns product news into sales, as buyers look at budgets and compare Atlassian against bigger software rivals and new project-management tools.

Atlassian shares aren’t trading in the regular session on Saturday because Nasdaq’s normal market hours are Monday to Friday, 9:30 a.m. to 4:00 p.m. Eastern. That puts the focus on Monday’s open to see if Friday’s bounce continues.

The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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