Asana Inc Stock Forecast:
According to predictions made by 20 analysts, the average price target for Asana Inc’s stock over the next 12 months is USD 21.15. The consensus among these analysts is to “Hold” Asana Inc’s stock. However, Stock Target Advisor‘s analysis indicates a slightly negative outlook, based on 2 positive signals and 4 negative signals. As of the latest closing, the stock price for Asana Inc was USD 17.80. Over the past week, the stock price has increased by +21.01%, while over the past month, it has risen by +9.07%. However, over the last year, it has decreased by -59.99%.
Analysts Coverage Change:
- Piper Jaffray Companies maintains a “Neutral” rating on Asana Inc. and raises the price target to $24 from $13.
- Oppenheimer & Co. maintains an “Outperform” rating and raises the price target to $28 from $25.
- Jefferies & Company maintains a “Hold” rating and raises the price target to $23 from $15.
- JMP Securities maintains an “Outperform” rating and raises the price target to $28 from $21.
- Robert W. Baird & Co. maintains a “Neutral” rating and raises the price target to $20 from $15.
Asana Inc. News:
Asana, a leading project management software company, saw its stock price surge by more than 27% on Wednesday following an announcement from its founder and CEO, Dustin Moskovitz. In a regulatory filing, Moskovitz disclosed his plans to purchase up to 30 million shares of the company’s Class A common stock.
This commitment by Moskovitz, who already owns approximately 36% of Asana’s outstanding shares, is a significant show of confidence in the company’s future prospects. At current market prices, his purchase of 30 million shares would amount to nearly $700 million.
The news of Moskovitz’s planned investment comes at a time when Asana is seeing strong growth in its user base and revenues. The company’s cloud-based software, which helps teams manage and collaborate on projects, has become increasingly popular as remote work has become more prevalent.
Asana’s revenue grew by 59% year-over-year in the most recent quarter, and the company added more than 12,000 paying customers during that same period. With Moskovitz’s additional investment, the company will have even more resources to fuel its growth and continue expanding its market share.
Overall, Moskovitz’s commitment to buying a substantial amount of Asana’s stock is a positive sign for investors and a testament to the company’s potential for long-term success.
FA Score (Fundamental Analysis):
The fundamental analysis of Asana Inc is “Slightly Bearish” with a FA score of 3.3 out of 10, where 0 is very bearish and 10 is very bullish.
