Asana Inc. [ASAN] is -67.66% lower this YTD. Is it still time to buy?


Asana Inc. [NYSE: ASAN] stock went on an upward path that rose over 13.73% on Thursday, amounting to a one-week price increase of more than 19.36%. The company report on June 2, 2022 that Asana Announces Record First Quarter Fiscal 2023 Revenues.

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First quarter revenue grew 57% year over year.

Revenues from customers spending $5,000 or more on an annualized basis grew 73% year over year.

Over the last 12 months, ASAN stock dropped by -34.47%. The one-year Asana Inc. stock forecast points to a potential upside of 52.65. The average equity rating for ASAN stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.16 billion, with 187.55 million shares outstanding and 71.38 million shares in the current float. Compared to the average trading volume of 5.14M shares, ASAN stock reached a trading volume of 7923196 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $50.92 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 2.20. 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 2.91, with the Price to Sales ratio for ASAN stock in the period of the last 12 months amounting to 10.98. The Price to Book ratio for the last quarter was 22.12, with the Price to Cash per share for the same quarter was set at 1.81.

ASAN Stock Performance Analysis:

Asana Inc. [ASAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.36. With this latest performance, ASAN shares dropped by -10.84% in over the last four-week period, additionally sinking by -73.20% over the last 6 months – not to mention a drop of -34.47% 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 49.42, with the RSI for the last a single of trading hit 55.87, and the three-weeks RSI is set at 45.76 for Asana Inc. [ASAN]. The present Moving Average for the last 50 days of trading for this stock 29.50, while it was recorded at 22.10 for the last single week of trading, and 70.84 for the last 200 days.

Insight into Asana Inc. Fundamentals:

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

Asana Inc. [ASAN] Insider Position Details

There are presently around $1,257 million, or 64.70% of ASAN stock, in the hands of institutional investors. The top three institutional holders of ASAN stocks are: VANGUARD GROUP INC with ownership of 6,425,503, which is approximately -12.088% of the company’s market cap and around 23.60% of the total institutional ownership; BLACKROCK INC., holding 6,135,765 shares of the stock with an approximate value of $130.08 million in ASAN stocks shares; and CHAMPLAIN INVESTMENT PARTNERS, LLC, currently with $121.01 million in ASAN stock with ownership of nearly 26.466% of the company’s market capitalization.

Positions in Asana Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 161 institutional holders increased their position in Asana Inc. [NYSE:ASAN] by around 11,936,918 shares. Additionally, 185 investors decreased positions by around 10,009,674 shares, while 47 investors held positions by with 37,324,420 shares. The mentioned changes placed institutional holdings at 59,271,012 shares, according to the latest SEC report filing. ASAN stock had 49 new institutional investments in for a total of 1,272,203 shares, while 92 institutional investors sold positions of 4,000,982 shares during the same period.