Asana Inc. (NYSE:ASAN) finished Wednesday with a subtraction of -$0.32 to close at $21.23, a downside of -1.48 percent. An average of 1,776,220 shares of common stock have been traded in the last five days. There was a fall of -$1.36 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 1,952,645 shares traded, while the 50-day average volume stands at 2,647,498.
ASAN stock has decreased by -8.69% in the last month. The company shares reached their 1-month lowest point of $20.45 on 07/10/23. With the stock rallying to its 52-week high on 06/16/23, shares of the company touched a low of $11.32 and a high of $29.51 in 52 weeks. It has reached a new high 12 times so far this year and achieved 54.18% or $7.46 in price. In spite of this, the price is down -28.06% from the 52-week high.
Insider Transactions
ASAN stock investors should be aware that Asana Inc. (ASAN) stock had its last reported insider trading activity 21 days ago on Aug 08. In this transaction, the insider spent $116,700. Chief Financial Officer, Wan Tim M, disposed of 5,000 shares at a price of $24.12 on Jul 19. The insider now owns more than $120,600 worth of shares. Prior to that, Chief Financial Officer Wan Tim M went on to Sale 5,000 shares at $22.69 each on Jun 29. An amount of $113,450 was transacted.
Valuation Metrics
Asana Inc. (ASAN) stock’s beta is 1.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.97, the price-to-book (PB) ratio at 13.19.
Financial Health
The quick ratio of Asana Inc. for the three months ended April 29 was 1.90, and the current ratio was 1.90, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.13 and a total debt to equity ratio of 0.00 for the quarter ending April 29. Asana Inc.’s EBITDA margin for the year ending April 29 is -67.67%, while its operating margin for the same period stands at -65.10%. Its gross profit as reported stood at $490.65 million compared to revenue of $547.21 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Asana Inc.’s return on assets was -41.90%.
Earnings Surprise
For the three-month period that ended April 29, Asana Inc. had $141.32 million in cash and short-term investments compared to $46.08 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$61.47 million in the quarter, while revenues were shrunk -60.84%. The analyst consensus anticipated Asana Inc.’s latest quarter earnings to come in at -$0.18 per share, but it turned out to be -$0.09, a 50.00% surprise. For the quarter, EBITDA amounted to -$57.06 million. Shareholders own equity worth $216.84 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Asana Inc. (ASAN) price momentum. RSI 9-day as of the close on 09 August was 36.69%, suggesting the stock is Neutral, with historical volatility in this time frame at 55.73%.
As of today, ASAN’s price is $21.79 -6.02% or -$1.36 from its 5-day moving average. ASAN is currently trading -6.64% lower than its 20-day SMA and -4.54% lower than its 100-day SMA. However, the stock’s current price level is -0.09% below the SMA50 and +12.51% above the SMA200.
The stochastic %K and %D were 15.23% and 17.50%, respectively, and the average true range (ATR) was 1.15. With the 14-day stochastic at 12.04% and the average true range at 1.17, the RSI (14) stands at 41.99%. The stock has reached -1.00 on the 9-day MACD Oscillator while the 14-day reading was at -0.78.
Analyst Ratings
DA Davidson downgraded Asana Inc. (NYSE: ASAN) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy.
What is ASAN’s price target for the next 12 months?
Analysts predict a range of price targets between $10.00 and $32.00, with a median target of $24.00. Taking a look at these predictions, the average price target given by analysts for Asana Inc. (ASAN) stock is $23.69.
