Asana Inc. [NYSE: ASAN] price plunged by -6.76 percent to reach at -$0.95. The company report on December 1, 2022 that Asana Announces Record Third Quarter Fiscal 2023 Revenues.
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.
A sum of 3086936 shares traded at recent session while its average daily volume was at 3.60M shares. Asana Inc. shares reached a high of $13.87 and dropped to a low of $12.88 until finishing in the latest session at $13.10.
The one-year ASAN stock forecast points to a potential upside of 32.82. The average equity rating for ASAN stock is currently 2.80, 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 $19.50 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 1.10, with the Price to Sales ratio for ASAN stock in the period of the last 12 months amounting to 5.37. The Price to Book ratio for the last quarter was 6.79, with the Price to Cash per share for the same quarter was set at 2.62.
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 -4.45. With this latest performance, ASAN shares dropped by -6.43% in over the last four-week period, additionally sinking by -32.79% over the last 6 months – not to mention a drop of -75.38% 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 43.08, with the RSI for the last a single of trading hit 43.32, and the three-weeks RSI is set at 42.60 for Asana Inc. [ASAN]. The present Moving Average for the last 50 days of trading for this stock 15.52, while it was recorded at 13.98 for the last single week of trading, and 20.98 for the last 200 days.
Insight into Asana Inc. Fundamentals:
Asana Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.10.
Asana Inc. [ASAN] Insider Position Details
There are presently around $766 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 31.60% of the total institutional ownership; VANGUARD GROUP INC, holding 6,857,364 shares of the stock with an approximate value of $89.83 million in ASAN stocks shares; and BLACKROCK INC., currently with $82.2 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 114 institutional holders increased their position in Asana Inc. [NYSE:ASAN] by around 12,732,664 shares. Additionally, 118 investors decreased positions by around 8,179,600 shares, while 50 investors held positions by with 37,573,833 shares. The mentioned changes placed institutional holdings at 58,486,097 shares, according to the latest SEC report filing. ASAN stock had 46 new institutional investments in for a total of 2,095,238 shares, while 41 institutional investors sold positions of 3,397,436 shares during the same period.