Cloud stocks are finding some love again and staging a reversal. TEAM is showing signs of breaking from its current downtrend with $127-129 as a possible entry level.
Volume is bullish and increasing.
RSI on verge of breaking resistance.
$149 average analysts price target| Overweight.
7.2% short interest.
Upgrade details 28th Oct
Bank of America upgrades Atlassian (NASDAQ:TEAM) from Neutral to Buy with a $135 price target, citing "an enhanced buying opportunity" after the recent selloff that has shares down 22% since an August high.
Analyst Nikolay Beliov says the company has a "best of breed business model" and sees TEAM as better positioned than its peers to survive macro slowing.
The analyst calls TEAM's 30% FCF margin and revenue growth "appealing" in a low interest rate environment. Source SeekignAlpha.
Atlassian has an Outperform average Sell Side rating.
Company profile
Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include JIRA software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage. The company was founded by Michael Cannon-Brookes and Scott Farquhar in 2002 and is headquartered in London, the United Kingdom.
Volume is bullish and increasing.
RSI on verge of breaking resistance.
$149 average analysts price target| Overweight.
7.2% short interest.
Upgrade details 28th Oct
Bank of America upgrades Atlassian (NASDAQ:TEAM) from Neutral to Buy with a $135 price target, citing "an enhanced buying opportunity" after the recent selloff that has shares down 22% since an August high.
Analyst Nikolay Beliov says the company has a "best of breed business model" and sees TEAM as better positioned than its peers to survive macro slowing.
The analyst calls TEAM's 30% FCF margin and revenue growth "appealing" in a low interest rate environment. Source SeekignAlpha.
Atlassian has an Outperform average Sell Side rating.
Company profile
Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include JIRA software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage. The company was founded by Michael Cannon-Brookes and Scott Farquhar in 2002 and is headquartered in London, the United Kingdom.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.