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Atlassian Corp A TEAM

Morningstar Rating
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Stock XNAS Rating as of
$178.52 −5.60 (3.04%)
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As of Delayed Price Pre-Open: $178.50 0.00
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Company Report

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Atlassian: Shares Attractive as Investor Day Highlights Growth Vectors and New Financial Targets

Dan Romanoff

We maintain our narrow moat rating for Atlassian after it hosted its 2024 investor day where it focused on its medium-term financial targets, growth vectors, and its research and development efforts. We make no changes to our model and thus maintain our fair value estimate of $225 per share. We appreciate the granular disclosures by management and think they support a positive story around the firm. We see shares as undervalued, especially in light of management’s new financial targets.

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Price vs Fair Value

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TEAM is trading at a 18% discount.
Price
$184.12
Fair Value
$286.00
Uncertainty
Very High
1-Star Price
$153.75
5-Star Price
$949.40
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Atlassian’s growth has been strong and is expected to remain so, with robust new customer adds, client retention, upselling, and the introduction of new solutions.

Bears

Atlassian has traded at lofty valuations at times, and while it might continue to generate strong growth, the company may fail to live up to the optimistic assumptions that are sometimes embedded in the share price.

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News

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Trading Information

Previous Close Price
$184.12
Day Range
$178.08–182.00
52-Week Range
$128.02–256.88
Bid/Ask
$177.80 / $182.49
Market Cap
$46.47 Bil
Volume/Avg
93 / 1.7 Mil

Key Statistics

Price/Earnings (Normalized)
62.86
Price/Sales
11.07
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
0.69%

Company Profile

Atlassian produces software that helps teams work together more efficiently and effectively. The company provides project planning and management software, collaboration tools, and IT help desk solutions. The company operates in four segments: subscriptions (term licenses and cloud agreements), maintenance (annual maintenance contracts that provide support and periodic updates and are generally attached to perpetual license sales), perpetual license (upfront sale for indefinite usage of the software), and other (training, strategic consulting, and revenue from the Atlassian Marketplace app store). Atlassian was founded in 2002 and is headquartered in Sydney.
Sector
Technology
Industry
Software - Application
Stock Style Box
Mid Growth
Total Number of Employees
10,726
Website
https://www.atlassian.com

Competitors

Valuation

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Metric
TEAM
MSFT
NOW
Price/Earnings (Normalized)
 62.8635.5461.05
Price/Book Value
 41.0012.0518.27
Price/Sales
 11.0712.9615.71
Price/Cash Flow
 47.3227.5639.50
Price/Earnings
TEAM
MSFT
NOW

Financial Strength

Metric
TEAM
MSFT
NOW
Quick Ratio
 1.121.020.91
Current Ratio
 1.181.221.05
Interest Coverage
 −3.7641.4938.58
Quick Ratio
TEAM
MSFT
NOW

Profitability

Metric
TEAM
MSFT
NOW
Return on Assets (Normalized)
 17.13%19.65%15.52%
Return on Equity (Normalized)
 91.10%38.71%34.41%
Return on Invested Capital (Normalized)
 33.35%28.79%23.41%
Return on Assets
TEAM
MSFT
NOW
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