Is atlassian stock worth buying?

Atlassian. 65B market cap on 2.1B revenue with a cash flow about $850M. That’s a price to cash flow ratio of 80 or so and this is after the stock dipped 45-50% from late last year. Still room to fall, they’re growing but nowhere close to fast enough to justify that valuation. I think there’s maybe another 20% to go. A lot will depend on profitability outlook, they’re continuing to take on a dangerous amount of debt to fund their growth which I’m not a fan of. Growing revenues at about 30-40% a year. That gap will take a long time to fill so I expect them to under perform the market and tank badly if even a little bit goes wrong in earnings. Their subscriber growth is already slowing, they’re squeezing more out of people that are there. Could easily see them dip to half the current price even.

Pricey with a potential to grow from current levels. However, as pointed out any slight slip and the stock will get punished more. Definitely not a value buy.