For Asana Inc. [ASAN], Analyst sees a drop to $32. What next?


Asana Inc. [NYSE: ASAN] slipped around -1.16 points on Wednesday, while shares priced at $27.53 at the close of the session, down -4.04%. The company report on April 5, 2022 that Asana Anatomy of Work Index 2022: Work About Work Hampering Organizational Agility.

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Almost 1 in 4 workers experienced burnout 4 or more times in the past year.

Employees waste 6 working weeks each year on a combination of duplicated work and unnecessary meetings.

Asana Inc. stock is now -63.07% down from its year-to-date (YTD) trading value. ASAN Stock saw the intraday high of $29.70 and lowest of $27.045 per share. The company’s 52-week high price is 145.79, which means current price is +1.79% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 5.19M shares, ASAN reached a trading volume of 3801926 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $57.67 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 2.10. 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.

JP Morgan have made an estimate for Asana Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 10, 2022. While these analysts kept the previous recommendation, Oppenheimer dropped their target price from $115 to $100. The new note on the price target was released on January 12, 2022, representing the official price target for Asana Inc. stock. Previously, the target price had yet another raise to $65, while DA Davidson analysts kept a Neutral rating on ASAN stock. On December 03, 2021, analysts decreased their price target for ASAN shares from 143 to 103.

The Average True Range (ATR) for Asana Inc. is set at 3.27, with the Price to Sales ratio for ASAN stock in the period of the last 12 months amounting to 14.45. The Price to Book ratio for the last quarter was 25.26, with the Price to Cash per share for the same quarter was set at 1.57.

How has ASAN stock performed recently?

Asana Inc. [ASAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.86. With this latest performance, ASAN shares dropped by -29.59% in over the last four-week period, additionally sinking by -78.08% over the last 6 months – not to mention a drop of -18.38% in the past year of trading.

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 current RSI for ASAN stock in for the last two-week period is set at 32.51, with the RSI for the last a single of trading hit 27.84, and the three-weeks RSI is set at 35.60 for Asana Inc. [ASAN]. The present Moving Average for the last 50 days of trading for this stock 42.56, while it was recorded at 29.07 for the last single week of trading, and 76.94 for the last 200 days.

Asana Inc. [ASAN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Asana Inc. [ASAN] shares currently have an operating margin of -70.07 and a Gross Margin at +89.72. Asana Inc.’s Net Margin is presently recorded at -76.19.

Return on Equity for this stock declined to -301.85, with Return on Assets sitting at -40.10.

Asana Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Insider trade positions for Asana Inc. [ASAN]

There are presently around $1,652 million, or 63.50% of ASAN stock, in the hands of institutional investors. The top three institutional holders of ASAN stocks are: VANGUARD GROUP INC with ownership of 7,309,015, which is approximately 4.079% of the company’s market cap and around 23.80% of the total institutional ownership; BLACKROCK INC., holding 6,121,980 shares of the stock with an approximate value of $175.64 million in ASAN stocks shares; and CHAMPLAIN INVESTMENT PARTNERS, LLC, currently with $129.5 million in ASAN stock with ownership of nearly 8.374% of the company’s market capitalization.

Positions in Asana Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 192 institutional holders increased their position in Asana Inc. [NYSE:ASAN] by around 10,069,824 shares. Additionally, 192 investors decreased positions by around 9,474,505 shares, while 36 investors held positions by with 38,038,708 shares. The mentioned changes placed institutional holdings at 57,583,037 shares, according to the latest SEC report filing. ASAN stock had 96 new institutional investments in for a total of 3,385,796 shares, while 87 institutional investors sold positions of 1,293,838 shares during the same period.