On March 8th, Asana (NYE:ASAN), the software firm specializing in project management, is scheduled to release its quarterly earnings report. Analysts are anticipating a loss of $0.27 per share for the quarter, following the company’s loss of $0.49 per share in the previous quarter. Although Asana exceeded the consensus estimate by $0.04 in the last quarter, concerns are being raised about the company’s financial health due to its negative net margin of 79.14% and negative return on equity of 190.24%.
Asana’s stock was trading at $14.79 with a market capitalization of $3.15 billion as of Wednesday, rising by 0.3%. Hedge funds and institutional investors own 28.22% of Asana’s stock, while several analysts have lowered their price targets for the company. JP Morgan Chase & Co, DA Davidson, Royal Bank of Canada, and Credit Suisse Group are among the firms that have cut their price targets. Meanwhile, two analysts have rated the stock as “sell,” eight as “hold,” and three as “buy.”
Asana’s 50-day moving average price is $14.48, and its 200-day moving average price is $18.10. The company has a beta of 1.22 and a debt-to-equity ratio of 0.08, while its quick ratio and current ratio are 2.11. The company’s 52-week low is $11.32, and its 52-week high is $57.47. Investors and analysts are closely watching Asana’s financial results due to the pandemic’s ongoing challenges and the company’s recent performance.
Asana Inc Stock Forecast
As per the analysis of 15 analysts, the average target price for Asana Inc in the next 12 months is expected to be USD 20.99. The average analyst ratings for Asana Inc is Hold. Stock Target Advisor has conducted its own analysis on Asana Inc and has categorized it as Slightly Bearish based on 2 positive and 4 negative signals. As of the last closing, the stock price of Asana Inc was USD 14.79. Over the past week, the stock price has increased by +0.54%, while over the past month, it has decreased by -4.83%. However, over the last year, the stock price has declined by -73.01%.
Asana, Inc. is a work management platform that offers solutions for teams to manage tasks and projects. The platform is designed to help teams manage cross-functional strategic initiatives, product launches, and organization-wide goal settings. The company serves customers across various industries and is headquartered in San Francisco, California.