Okta, Atlassian Are 'Zombie Stocks' In Danger Of Dropping To $0: Analyst
Okta, Atlassian Are 'Zombie Stocks' In Danger Of Dropping To $0: Analyst
New Constructs CEO David Trainer added Atlassian Corp (NASDAQ:TEAM) and Okta Inc (NASDAQ:OKTA) to his Zombie Stock list. Atlassian shares are down 63.1% and Okta shares are down 71.1% year-to-date, but Trainer said this week both stocks may still have more pain ahead.
新建構行政總裁大衛培訓師加入 阿特拉西亚 (納斯達克:隊) 和 玉田 （納斯達克：奧克塔）到他的 殭屍股票 列表。阿特拉西亞股價下跌 63.1％，Okta 股價下跌了 71.1％，但訓練師本周表示，這兩隻股票可能仍然有更多的痛苦。
Atlassian Struggling: Trainer's bear case on Atlassian was based on a breakdown of the company's fundamentals since the beginning of fiscal 2022. He said Atlassian's net operating profit after-tax (NOPAT) margin has dropped from 5% in fiscal 2021 to -6% in the past 12 months.
阿特拉西亞掙扎： 培訓師關於阿特拉西亞的熊證案是根據自 2022 財政年初以來公司基本面的細分。他說，阿特拉西亞的稅後淨營業利潤（NOPAT）利潤率已從 2021 會計年度的 5％ 下降到過去 12 個月的 -6％。
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Unfortunately, rising interest rates mean the company can no longer access cheap capital, and Trainer said Atlassian has burned through $838 million in cash since the first quarter of fiscal 2021.
不幸的是，利率上升意味著該公司無法再獲得廉價資本，培訓師表示，自 2021 財年第一季度以來，Atlassian 已經燒毀了 838 億美元的現金。
"Companies that inherently struggle to produce real cash flows, like Atlassian, are at risk of seeing their stock price go to $0," Trainer said.
培訓師說：「像 Atlassian 一樣，天生難以產生真正的現金流的公司有可能看到他們的股票價格降至 $0。」
Okta's Cash Burn: He said Okta was also burning cash at an alarming rate with no end in sight. The company burned $3.8 billion in free cash flow since 2018, and the company was facing stiff competition from larger, more profitable companies, such as Microsoft Corp (NASDAQ:MSFT) and Oracle Corporation (NYSE:ORCL). Trainer estimated Microsoft's NOPAT margin was 35%, Oracle's was 30% and Okta's was -52%.
奧克塔的現金燒傷： 他說，Okta 還以驚人的速度燃燒現金，沒有盡頭。自 2018 年以來，該公司燒掉了 38 億美元的自由現金流，該公司正面臨著大型，更有利可圖的公司的激烈競爭，例如 微軟公司 (納斯達克:MSFT) 和 甲骨文公司 (紐約證券交易所:ORCL).培訓師估計微軟的 NOPAT 利潤率為 35％，甲骨文為 30％，奧克塔為 -52％。
"While Okta will struggle to fund its cash burn, its profitable competition will be better positioned to increase market share," Trainer said.
「雖然 Okta 將努力為其現金消耗提供資金，但其盈利競爭將更好地增加市場份額，」培訓師說。
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Benzinga's Take: Regardless of whether Atlassian or Okta shares eventually drop to zero, there's not much to like about the direction in which the companies or their stocks are headed at the moment.
賓辛加的採取: 無論 Atlassian 還是 Okta 股票最終跌至零，目前公司或其股票的發展方向都不太喜歡。
Trainer has been dead-on so far in 2022 with similar bearish calls on stocks such as Blue Apron Holdings Inc (NYSE:APRN) and AMC Entertainment Holdings Inc (NYSE:AMC), so investors should certainly think twice before buying the dips in Atlassian or Okta.
到目前為止，教練一直在死於 2022 年，類似的看跌電話對股票，例如 藍圍裙控股有限公司 (紐約證交所代碼:APRN) 和 AMC 娛樂控股 紐約證券交易所代碼：AMC），因此在購買阿特拉西亞或 Okta 的跌勢之前，投資者肯定應該三思而行。
Photo: Stockimo via Shutterstock
照片：通過快門股票的股票
譯文內容由第三人軟體翻譯。