If your team name no longer reflects the purpose of the team, you can easily rename it if you are a team administrator. To edit a team name:
  1. Open the team conversation you wish to rename.
  2. Tap on the team name in the app header.
  3. Tap the gear icon in the upper right of the team profile to expose the team settings menu.
  4. Tap Team Name from the team settings menu.
  5. Type in the new name for your team.
  6. Tap OK or Done to confirm.
If you rename the team, keep in mind that you are renaming it for everyone in the conversation.