A large insider buy transaction occurred in ASAN stock on September 7, 2021.
Asana helps teams orchestrate their work, from small projects to strategic initiatives. Headquartered in San Francisco, CA, Asana has more than 107,000 paying customers and millions of free organizations across 190 countries. Global customers such as Amazon, Japan Airlines, Sky, and Under Armour rely on Asana to manage everything from company objectives to digital transformation to product launches and marketing campaigns.
ASAN Stock Fundamental Analysis
From a fundamental analysis, ASAN stock is overvalued, but it has robust revenue growth forecasts going out through 2026.
The Price/Earnings Ratio is negative for ASAN. When comparing the price-book ratio of ASAN to the average industry price-book ratio of 7.90, ASAN is valued more expensive than its industry peers. 95% of the companies listed in the same industry are valued cheaper.
The Revenue is expected to grow by 32.48% on average over the next 5 years. This is robust growth. However, that’s just a forecast. Overall, ASAN stock looks bad on a fundamental analysis basis.
ASAN Stock Technical Analysis
ASAN stock looks like a horrible technical setup at the moment. Notice the gravestone doji formed on September 10, 2021, which was the day before options expiration week, and the entire market pulled back. Still, a pullback and consolidation would be a much better entry than chasing a spike move higher.
ASAN stock price target raised to $85 from $77 at Oppenheimer
On September 2, 2021, Oppenheimer analyst Ittai Kidron raised the firm’s price target on ASAN stock to $85 from $77 and kept an Outperform rating on the shares. The analyst notes Asana posted a “strong” Q2 and raised the full-year 2022 guidance supported by broad-based demand.
ASAN stock price target raised to $85 from $75 at KeyBanc
On September 2, 2021, KeyBanc analyst Steve Enders raised the firm’s price target on ASAN stock to $85 from $75 and kept an Overweight rating on the shares. The analyst notes Asana delivered “another strong quarter.” He adds that the company saw continued strong momentum in the enterprise as deployments are becoming increasingly strategic and sales investments ramp. Enders sees Asana sustaining 30%-plus growth in a large $50B market opp.
ASAN stock price target raised to $75 from $70 at RBC Capital
On September 2, 2021, RBC Capital analyst Rishi Jaluria raised the firm’s price target on ASAN stock to $75 from $70 and kept a Sector Perform rating on the shares. The analyst tells investors in a research note that the company reported a “solid” Q2 beat and raise, with the quarter highlighted by an acceleration of large customer net adds and improved DBNER rates. Jaluria adds that his concerns regarding competition, total addressable market, and valuation keep him neutral on the stock.
Asama Reports Q2 2022 Financials
On September 1, 2021, Asana reported Q2 adjusted EPS of (23c) versus the consensus estimate of (26c). Asana reported Q2 revenue of $89.5M versus the consensus estimate of $82.24M.
“In the second quarter, we accelerated total revenue growth, continued to report strong customer growth, and increased dollar-based net retention rates across the board,” said Dustin Moskovitz, co-founder, and chief executive officer of Asana. “Customers are adopting Asana everywhere: across our major geographies and all sizes of teams. We saw particular strength in the enterprise, with the number of customers spending over $50,000 up 111 percent. Stay tuned for more enterprise announcements in October.”
Asana (ASAN): Still Attractively Valued, Even Now
Michael Wiggins De Oliveira says that Asana’s stock price has been on a tear of late, but the market isn’t acting irrationally. Asana’s ability to onboard and upsell to large customers is showing no signs of slowing down.