12 Oversold Growth Stocks to Buy According to Analysts

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9. Atlassian Corporation (NASDAQ:TEAM)

Year-to-Date Performance: -32.99%

Number of Hedge Fund Holders: 64

Analyst Upside Potential: 50.84%

Atlassian Corporation (NASDAQ:TEAM) is one of the Oversold Growth Stocks to Buy According to Analysts. On September 23, Koji Ikeda from Bank of America Securities initiated coverage of Atlassian Corporation (NASDAQ:TEAM) with a Hold rating and $200 price target.

The analyst notes that the company has a strong position as a centralized planning tool with over 300,000 customers. He sees Atlassian Corporation (NASDAQ:TEAM) to be well-positioned to capture a large share of the $58 billion collaboration and project management market.

In addition, Ikeda also remains positive about the company’s long-term growth and free cash flow potential. However, the analyst remains neutral on the stock because he believes that accelerating the end of sales and support for its Data Center offering and two large acquisitions can make it difficult for the company to justify its long-term growth prospects. Under the current circumstances, Ikeda sees the company’s risk/reward profile as neutral.

Atlassian Corporation (NASDAQ:TEAM) is a technology company that creates tools for team collaboration and project management.

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