Asana Inc. (ASAN) attracts a new wave of investors despite economic turmoil

Asana Inc. (NYSE: ASAN) closed the day trading at $20.84 up 0.58% from the previous closing price of $20.72. In other words, the price has increased by $+0.12 from its previous closing price. On the day, 5189916 shares were traded. ASAN stock price reached its highest trading level at $21.83 during the session, while it also had its lowest trading level at $20.45.

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For a better understanding of ASAN, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.10 and its Current Ratio is at 2.10. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.08.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, DA Davidson on March 09, 2023, Upgraded its rating to Buy and sets its target price to $21 from $18 previously.

On March 03, 2023, DA Davidson Upgraded its rating to Buy which previously was Neutral but kept the price unchanged to $18.

Robert W. Baird Downgraded its Outperform to Neutral on December 02, 2022, whereas the target price for the stock was revised from $32 to $15.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Dec 21 when Wan Tim M sold 5,055 shares for $13.65 per share. The transaction valued at 69,001 led to the insider holds 607,051 shares of the business.

LACEY ELEANOR B sold 2,034 shares of ASAN for $27,764 on Dec 21. The GC, Corporate Secretary now owns 166,270 shares after completing the transaction at $13.65 per share. On Sep 22, another insider, LACEY ELEANOR B, who serves as the GC, Corporate Secretary of the company, sold 303 shares for $22.91 each. As a result, the insider received 6,942 and left with 168,304 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 8.96 while its Price-to-Book (P/B) ratio in mrq is 10.80.

Stock Price History:

Over the past 52 weeks, ASAN has reached a high of $47.28, while it has fallen to a 52-week low of $11.32. The 50-Day Moving Average of the stock is 15.39, while the 200-Day Moving Average is calculated to be 18.79.

Shares Statistics:

Over the past 3-months, ASAN traded about 3.78M shares per day on average, while over the past 10 days, ASAN traded about 7.48M shares per day. A total of 204.66M shares are outstanding, with a floating share count of 75.89M. Insiders hold about 31.60% of the company’s shares, while institutions hold 48.10% stake in the company. Shares short for ASAN as of Jan 30, 2023 were 9.98M with a Short Ratio of 14.05M, compared to 9.99M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 4.69% and a Short% of Float of 10.25%.

Earnings Estimates

Current recommendations for the stock of the company come from 13 analysts. On average, analysts expect EPS of -$0.27 for the current quarter, with a high estimate of -$0.26 and a low estimate of -$0.28, while EPS last year was -$0.25. The consensus estimate for the next quarter is -$0.23, with high estimates of -$0.17 and low estimates of -$0.31.

Analysts are recommending an EPS of between -$1.14 and -$1.21 for the fiscal current year, implying an average EPS of -$1.16. EPS for the following year is -$0.8, with 15 analysts recommending between -$0.59 and -$1.01.

Revenue Estimates

12 analysts predict $145.12M in revenue for the current quarter. It ranges from a high estimate of $146.54M to a low estimate of $144.41M. As of the current estimate, Asana Inc.’s year-ago sales were $111.95M, an estimated increase of 29.60% from the year-ago figure. For the next quarter, 11 analysts are estimating revenue of $149.97M, an increase of 24.30% less than the figure of $29.60% in the same quarter last year. There is a high estimate of $154.4M for the next quarter, whereas the lowest estimate is $146.4M.

A total of 15 analysts have provided revenue estimates for ASAN’s current fiscal year. The highest revenue estimate was $543.52M, while the lowest revenue estimate was $541.39M, resulting in an average revenue estimate of $542.09M. In the same quarter a year ago, actual revenue was $378.44M, up 43.20% from the average estimate. Based on 15 analysts’ estimates, the company’s revenue will be $649.76M in the next fiscal year. The high estimate is $705M and the low estimate is $626.7M. The average revenue growth estimate for next year is up 19.90% from the average revenue estimate for this year.