For Asana Inc. [ASAN], Analyst sees a rise to $30. What next?

Asana Inc. [NYSE: ASAN] price plunged by -6.88 percent to reach at -$1.58. The company report on November 3, 2020 that Asana Announces Date of Third Quarter Fiscal Year 2021 Earnings Conference Call.

Financial results to be released Wednesday, December 9, 2020 after the close of market.

Asana, Inc. (NYSE: ASAN), a leading work management platform for teams, today announced that it will release financial results for the third quarter of fiscal year 2021, ended October 31, 2020, after the close of the U.S. market on Wednesday, December 9, 2020.

A sum of 1379748 shares traded at recent session while its average daily volume was at 3.40M shares. Asana Inc. shares reached a high of $23.0444 and dropped to a low of $21.26 until finishing in the latest session at $21.37.

The one-year ASAN stock forecast points to a potential upside of 19.87. The average equity rating for ASAN stock is currently 2.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Asana Inc. [ASAN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASAN shares is $26.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASAN stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for Asana Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 10, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on October 26, 2020, representing the official price target for Asana Inc. stock. Previously, the target price had yet another raise to $25, while Piper Sandler analysts kept a Neutral rating on ASAN stock.

The Average True Range (ATR) for Asana Inc. is set at 1.23, with the Price to Sales ratio for ASAN stock in the period of the last 12 months amounting to 17.90.

ASAN Stock Performance Analysis:

Asana Inc. [ASAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.74.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The RSI for the last a single of trading hit 27.28, and the three-weeks RSI is set at 25.82 for Asana Inc. [ASAN], while it was recorded at 22.57 for the last single week of trading.

Insight into Asana Inc. Fundamentals:

Asana Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.

Asana Inc. [ASAN] Insider Position Details

There are presently around $7 million, or 22.70% of ASAN stock, in the hands of institutional investors. The top three institutional holders of ASAN stocks are: BLACKROCK INC. with ownership of 154,006, which is approximately New of the company’s market cap and around 3.90% of the total institutional ownership; HAMILTON LANE ADVISORS LLC, holding 139,245 shares of the stock with an approximate value of $2.98 million in ASAN stocks shares; and PENDAL GROUP LTD, currently with $0.24 million in ASAN stock with ownership of nearly New of the company’s market capitalization.

13 institutional holders increased their position in Asana Inc. [NYSE:ASAN] by around 324,356 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 324,356 shares, according to the latest SEC report filing. ASAN stock had 13 new institutional investments in for a total of 324,356 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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