5 Remote Work Stocks to Buy Now

In this article, we discuss the 5 remote work stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to the 10 Remote Work Stocks to Buy Now.

5. Atlassian Corporation Plc (NASDAQ:TEAM)

Number of Hedge Fund Holders: 60     

Atlassian Corporation Plc (NASDAQ:TEAM) makes and sells various software products. Some of the remote work solutions offered by the company include JIRA, a workflow management system, and Opsgenie, an incident management tool. 

On October 29, investment advisory Oppenheimer reiterated an Outperform rating on Atlassian Corporation Plc (NASDAQ:TEAM) stock and raised the price target to $500 from $420, highlighting that the cloud migration of the firm was “unfolding smoothly”. 

At the end of the third quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $6 billion in Atlassian Corporation Plc (NASDAQ:TEAM).

Here is what Baron Opportunity Fund has to say about Atlassian Corporation Plc (NASDAQ:TEAM) in its Q2 2021 investor letter:

“Atlassian Corporation Plc is a software leader that makes tools that are used by thousands of teams worldwide, thus its ticker TEAM. Atlassian’s tools “help teams collaborate, build, and create together” (quote from Atlassian’s website), with an emphasis on designing, developing, and maintaining software, including JIRA for team planning and project management, Confluence for team content creation and sharing, HipChat for team messaging and communications, Bitbucket for team software code sharing and management, and JIRA Service Desk for team services and support use cases. Atlassian is the recognized market leader for information technology team planning and project management software, and has extended its product offering into tangential areas, such as those listed above. The company is in the midst of transitioning its business model to the cloud, which will help it drive faster product innovation, more seamlessly integrate its product families, and raise the effective price realization for its suite of products. Atlassian is run by its two visionary founders, has strong competitive advantages, and we think it should be able to grow revenue over 25% for many years with best-in-class free cash flow margins.”