1 Growth Stock Set to Soar 169% From Its 52-Week Low, According to Wall Street
After attempting to stage a recovery over the last two months, the technology-focused Nasdaq 100 index appears to have resumed its decline deeper into bear market territory. The index has lost nearly 27% of its value year to date, but the losses in some individual tech stocks extend much further.
In some cases, that's an opportunity for investors to buy shares in high-quality companies at a discount. Atlassian (NASDAQ: TEAM) is one example, because it's experiencing accelerating growth right now and it's adding staff while many other organizations are cutting costs and shrinking their workforces.
Atlassian stock hit a 52-week low of $159.54 in May, and one Wall Street investment bank thinks it could soar to $430 in the next 12 to 18 months. The stock has already bounced to around $230, but that leaves plenty of upside on the table for investors who buy it now.
Source Fool.com
