Atlassian: GAAP Profitability, Accelerating Top-Line Growth Ahead (Ratings Upgrade)

Kelly SullivanI have been downgrading a lot of tech stocks lately as a result of a strong sector-wide rally, but Atlassian (NASDAQ:TEAM) is still trading at buyable levels. While the stock is admittedly rich and trades at the high end of its fair value range, I view the company as offering one of the stickiest products among peers. The company maintains a net cash balance sheet and I wouldn’t be surprised to see a GAAP profitability inflection over the next year. The company may see some acceleration in ...