2024-03-13 01:14:06 ET
Summary
- Atlassian stock looks rich in 2024, trading at >10x forward revenue despite expectations of decelerating growth rates.
- TEAM stock has seen macro pressure in the SMB segment, which has put a damper on seat expansion rates.
- Marketplace revenue results have also deteriorated somewhat.
- Though still a solid "Rule of 40" software company, it's best to wait for prices to come down before buying back in.
We're nearly through the first quarter of 2024, and likely very few investors would have anticipated the sharp rise in the stock market since the start of the year. My appetite for risk-taking has taken off again, lifting everything from AI stocks to cryptocurrencies. But against this backdrop, investors should focus on deploying capital conservatively, and protect for potential downside instead of getting too greedy....
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For further details see:
Atlassian: No Catalysts For Appreciation This Year (Rating Downgrade)