Buying Atlassian, CrowdStrike, and Adobe

Right at the starting gun, we've got 3 Watch List stocks ready to buy!

The first addition to the Buy List is Atlassian (TEAM). This company provides the toolbox for building software projects. I like pretty much everything about it. Despite "disappointing" guidance, it is still going to grow 30%+ this year and 25% next year. It generates a ton of cash. It is still led by its two co-founders. The software it provides gets deeply entrenched in core business processes and is extremely hard to switch away from. I see the stock as worth $200 - it is selling almost 40% under that right now. (Full review)

The second is pretty obvious to me. Adobe (ADBE) is one of the most important software companies in the world, supplying the gold standard tools for creative professionals across nearly any digital medium you can think of. The market didn't like the $20 billion dollar Figma deal, which is fair.... but even if it fails, the impact won't derail the company. And it could be very successful... Figma is doubling sales year-over-year right now. Adobe is wide moat, financially impressive, and 35% undervalued. Buy. (Full review)

Finally, I'm also adding CrowdStrike (CRWD). CrowdStrike has developed an impressive endpoint security model that adds a SaaS piece called the "Threat Graph". This allows all endpoints to communicate what they see back to CrowdStrike, allowing the company to quickly identify new threats, then immediately deploy protections back to those endpoints. It is "crowd-sourced" security! We've got over 40% growth, free cash flows exceeding 37% of revenues, a network effect, and founder leadership. The fair value estimation is $222, representing upside of over 35%. It goes into the Buy List now! (Full review)