The Nasdaq Composite soared 43% last year as recession fears diminished and investors piled into artificial intelligence (AI) stocks. That momentum has spilled into 2024, with the index advancing another 5% year to date. However, Morgan Stanley analysts led by Keith Weiss still see substantial upside in certain Nasdaq stocks.

For instance, the analyst team has given (NASDAQ: TEAM) a bull-case price target of $441 per share, implying a 113% upside over the next year. Investors should never anchor their stock buying habits to price targets, especially when they are coming from a single institution, but Atlassian still warrants consideration.

Atlassian provides software that helps businesses plan, track, and complete all sorts of projects. Its platform addresses three interconnected markets: work management for technical teams like development and operations, work management for non-technical teams like marketing and human resources, and IT service management. Atlassian believes its products address a $29 billion market that is growing by 14% annually.

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Source Fool.com