Asana Inc [NYSE: ASAN] loss -0.50% or -0.08 points to close at $15.77 with a heavy trading volume of 3573043 shares. The company report on March 19, 2024 at 4:00 AM that Asana Launches a New Suite of Intelligent Tools for the CIO.
Asana’s State of IT research reveals 77% of IT leaders feel responsible for leading AI transformation within their organization.
Deeper integrations with Microsoft 365, AI-powered reporting, and enhanced workflow capabilities, all with safeguards and controls, help CIOs build the right foundation for AI to drive greater ROI.
The daily chart for ASAN points out that the company has recorded -11.10% loss over the past six months.
If we look at the average trading volume of 2.08M shares, ASAN reached to a volume of 3573043 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $19.77 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 3.11. 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.
BofA Securities have made an estimate for Asana Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 26, 2024. While these analysts kept the previous recommendation, DA Davidson raised their target price to Neutral. The new note on the price target was released on December 20, 2023, representing the official price target for Asana Inc stock. Previously, the target price had yet another raise to $18, while HSBC Securities analysts kept a Reduce rating on ASAN stock. On October 23, 2023, analysts decreased their price target for ASAN shares from 24 to 16.
The Average True Range (ATR) for Asana Inc is set at 0.82, with the Price to Sales ratio for ASAN stock in the period of the last 12 months amounting to 5.43. The Price to Book ratio for the last quarter was 10.86, with the Price to Cash per share for the same quarter was set at 2.31.
Trading performance analysis for ASAN stock
Asana Inc [ASAN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.01. With this latest performance, ASAN shares dropped by -15.80% in over the last four-week period, additionally sinking by -11.10% over the last 6 months – not to mention a drop of -27.39% 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 33.01, with the RSI for the last a single of trading hit 26.02, and the three-weeks RSI is set at 37.38 for Asana Inc [ASAN]. The present Moving Average for the last 50 days of trading for this stock 18.25, while it was recorded at 15.92 for the last single week of trading, and 19.89 for the last 200 days.
Asana Inc [ASAN]: A deeper dive into fundamental analysis
Asana Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.74 and a Current Ratio set at 1.74.
Asana Inc [ASAN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Asana Inc posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 50.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ASAN.
An analysis of Institutional ownership at Asana Inc [ASAN]
The top three institutional holders of ASAN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ASAN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ASAN stock with ownership which is approximately 5.8325%.
