Asana Inc. (NYSE: ASAN) Stock Dropped -42.15% Over A Month – Are There Any Chances Of Growth? – Marketing Sentinel
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Asana Inc. (NYSE: ASAN) Stock Dropped -42.15% Over A Month – Are There Any Chances Of Growth?

During the last session, Asana Inc. (NYSE:ASAN)’s traded shares were 8.49 million. At the end of the trading day, the stock’s price was $19.87, reflecting an intraday gain of 6.03% or $1.13. The 52-week high for the ASAN share is $145.79, that puts it down -633.72 from that peak though still a striking 7.05% gain since the share price plummeted to a 52-week low of $18.47. The company’s market capitalization is $4.04B, and the average intraday trading volume over the past 10 days was 5.38 million shares, and the average trade volume was 5.26 million shares over the past three months.

Asana Inc. (ASAN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.10. ASAN has a Sell rating from 1 analyst(s) out of 12 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.28.

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Asana Inc. (NYSE:ASAN) trade information

Asana Inc. (ASAN) registered a 6.03% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 6.03% in intraday trading to $19.87 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -25.78%, and it has moved by -42.15% in 30 days. Based on these gigs, the overall price performance for the year is -29.41%. The short interest in Asana Inc. (NYSE:ASAN) is 11.26 million shares and it means that shorts have 3.1 day(s) to cover.

The consensus price target of analysts on Wall Street is $53.17, which implies an increase of 62.63% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $32.00 and $88.00 respectively. As a result, ASAN is trading at a discount of -342.88% off the target high and -61.05% off the low.

Asana Inc. (ASAN) estimates and forecasts

Statistics show that Asana Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Asana Inc. (ASAN) shares have gone down -84.68% during the last six months, with a year-to-date growth rate less than the industry average at -36.96% against 5.10. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -27.30% this quarter and then drop -28.60% in the quarter after that. In the rating firms’ projections, revenue will increase 63.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $105.2 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $111.1 million by the end of Apr 2022.

While earnings are projected to return -24.70% in 2022.

ASAN Dividends

Asana Inc. is due to release its next quarterly earnings between March 08 and March 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Asana Inc. (NYSE:ASAN)’s Major holders

Asana Inc. insiders own 26.78% of total outstanding shares while institutional holders control 73.10%, with the float percentage being 99.84%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 444 institutions own stock in it. As of Sep 29, 2021, the company held over 7.02 million shares (or 7.19% of all shares), a total value of $729.22 million in shares.

The next largest institutional holding, with 5.22 million shares, is of Blackrock Inc.’s that is approximately 5.34% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $541.91 million.

Also, the Mutual Funds coming in first place with the largest holdings of Asana Inc. (ASAN) shares are Advisors Inner Circle Fund II-Champlain Mid Cap Fund and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2021 indicates that Advisors Inner Circle Fund II-Champlain Mid Cap Fund owns about 2.1 million shares. This amounts to just over 2.15 percent of the company’s overall shares, with a $218.06 million market value. The same data shows that the other fund manager holds slightly less at 2.08 million, or about 2.13% of the stock, which is worth about $216.15 million.

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