Atlassian (TEAM) saw an improvement in its IBD SmartSelect Composite Rating Monday, from 94 to 96.


The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.

Atlassian has now climbed above a proper buy zone after breaking out from a 198.51 buy point in a consolidation and hits new high. The software developer moved up plans to phase out server licenses,  migrating customers to cloud-based offerings. Earnings are due Oct. 29.

Looking For The Best Stocks To Buy And Watch? Start Here


The stock has a 98 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 98% of all stocks.

Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.

In Q4, the company reported 25% EPS growth. Sales growth fell to 29%, down from 33% in the prior quarter. The company’s next quarterly report is expected on or around Oct. 17.

Atlassian earns the No. 3 rank among its peers in the Computer Software-Special Enterprise industry group. Mitek System (MITK) is the No. 1-ranked stock within the group.


Which Companies Are Now Outperforming 95% Of All Stocks?

See Which Stocks Just Came On — And Off — IBD’s Top Stock Lists

Identify Bases And Buy Points With Pattern Recognition From MarketSmith

MarketSmith’s Tools Can Help The Individual Investor

The post Atlassian Sees Composite Rating Climb To 96; Hits New 52-Week High appeared first on Investor’s Business Daily.

Leave a Reply

Your email address will not be published. Required fields are marked *