TEAM

Atlassian Corporation Plc - Ordinary Shares - Class A

TMT


Presented:09/22/2023
Price:$195.46
Cap:$50.23B
Current Price:$190.89
Cap:$49.64B

Presented

Date09/22/2023
Price$195.46
Market Cap$50.23B
Ent Value$42.16B
P/E RatioN/A
Book Value$2.54
Div Yield0%
Shares O/S257.01M
Ave Daily Vol1,472,735
Short Int2.11%

Current

Price$190.89
Market Cap$49.64B
Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.

Publicly traded companies mentioned herein: Atlassian Corp (TEAM)

Highlights

The presenter is long shares of Atlassian Corp (TEAM), believing the company is positioned to inflect positively following the long tail of self-inflicted negative sentiment stemming from aggressive cloud growth guidance at the April 2022 Investor Day. TEAM had guided FY2023 and FY2024 to 50% cloud growth, and the market has largely reacted negatively to misses on this guidance each of the last four quarters. Last quarter, there was a short squeeze as management updated FY2024 cloud growth guidance to 25% – 30%, which was unexpected since previous visibility into growth proved undependable. Yet, the stock remains a consensus short because investors haven’t gained confidence that cloud growth has bottomed. In contrast, the presenter sees a path to 40% – 50% cloud growth based on cyclical trends improving and a misunderstood cloud migration opportunity, which would warrant an 11x – 13x CY2025 sales multiple and create 100% upside over the next twelve months. 

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

  • Signing up and creating account with us unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Request access to DeMatteo Research for full access

Request Access

Already have an account?

Idea Discussion

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Commentor 1 - 2 weeks ago

Signing up and creating account with us, unlocks this content for you. Contact us today for full access to DeMatteo Research and more.

Idea Discussions display submitted commentary from our investor community.

To read and participate in the discussion with the presenter and investor base, request access to DeMatteo

Request Access

Already have an account?

An error occurred loading this content. Try again later or contact us.