Asana Inc. [ASAN] Stock trading around $15.50 per share: What’s Next?

Asana Inc. [NYSE: ASAN] traded at a high on 12/13/22, posting a 0.91 gain after which it closed the day’ session at $15.50. The company report on December 1, 2022 that Asana Announces Record Third Quarter Fiscal 2023 Revenues.

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Third quarter revenue growth up 41% year over year.

Revenues from customers spending $5,000 or more on an annualized basis grew 52% year over year.

The results of the trading session contributed to over 5662625 shares changing hands. Over the past one week, the price volatility of Asana Inc. stands at 7.70% while the volatility over the past one month is 7.87%.

The market cap for ASAN stock reached $3.25 billion, with 204.66 million shares outstanding and 75.89 million shares in the current float. Compared to the average trading volume of 4.05M shares, ASAN reached a trading volume of 5662625 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 $20.57 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 2.80. 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.

Robert W. Baird have made an estimate for Asana Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 02, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Sector Weight. The new note on the price target was released on October 13, 2022, representing the official price target for Asana Inc. stock. Previously, the target price had yet another raise to $23, while Credit Suisse analysts kept a Neutral rating on ASAN stock.

The Average True Range (ATR) for Asana Inc. is set at 1.53, with the Price to Sales ratio for ASAN stock in the period of the last 12 months amounting to 6.38. The Price to Book ratio for the last quarter was 8.03, with the Price to Cash per share for the same quarter was set at 2.60.

How has ASAN stock performed recently?

Asana Inc. [ASAN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.73. With this latest performance, ASAN shares dropped by -28.57% in over the last four-week period, additionally sinking by -12.73% over the last 6 months – not to mention a drop of -75.86% 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 42.40, with the RSI for the last a single of trading hit 44.01, and the three-weeks RSI is set at 42.62 for Asana Inc. [ASAN]. The present Moving Average for the last 50 days of trading for this stock 19.11, while it was recorded at 14.60 for the last single week of trading, and 24.43 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 2.10 and a Current Ratio set at 2.10.

Insider trade positions for Asana Inc. [ASAN]

There are presently around $916 million, or 48.10% of ASAN stock, in the hands of institutional investors. The top three institutional holders of ASAN stocks are: HIMENSION CAPITAL (SINGAPORE) PTE. LTD. with ownership of 7,536,622, which is approximately 78.113% of the company’s market cap and around 34.40% of the total institutional ownership; VANGUARD GROUP INC, holding 6,857,364 shares of the stock with an approximate value of $106.29 million in ASAN stocks shares; and BLACKROCK INC., currently with $97.26 million in ASAN stock with ownership of nearly -1.53% of the company’s market capitalization.

Positions in Asana Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 116 institutional holders increased their position in Asana Inc. [NYSE:ASAN] by around 12,822,569 shares. Additionally, 113 investors decreased positions by around 8,089,780 shares, while 52 investors held positions by with 38,171,760 shares. The mentioned changes placed institutional holdings at 59,084,109 shares, according to the latest SEC report filing. ASAN stock had 45 new institutional investments in for a total of 2,095,203 shares, while 39 institutional investors sold positions of 3,106,580 shares during the same period.


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