Asana Reaches 5-Day High on Upcoming Investor Conferences
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 16 2023
0mins
Should l Buy ASAN?
Source: globenewswire
Asana Inc's stock rose by 6.19%, reaching a 5-day high as the company announced its participation in upcoming investor conferences.
The Chief Financial Officer, Sonalee Parekh, will present at these events, which are expected to attract significant investor interest. Asana, known for its work management platform, serves over 170,000 customers, including major firms like Accenture and Amazon.
This positive movement in stock price reflects a broader market sentiment, with the Nasdaq-100 up 0.73% and the S&P 500 up 0.26%, indicating a favorable environment for tech stocks.
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Analyst Views on ASAN
Wall Street analysts forecast ASAN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASAN is 15.70 USD with a low forecast of 11.00 USD and a high forecast of 19.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
3 Buy
6 Hold
2 Sell
Hold
Current: 8.460
Low
11.00
Averages
15.70
High
19.00
Current: 8.460
Low
11.00
Averages
15.70
High
19.00
About ASAN
Asana, Inc. is an enterprise work management software platform. It enables organizations to align work to goals, coordinate cross-functional work, gain visibility into progress, automate workflows across departments, and scale work securely. It offers two products within the Asana platform to meet the needs of diverse organizations. The Asana platform maintains an application programming interface that enables developers to build apps on Asana and integrate with hundreds of third-party applications like Microsoft Teams, Slack, Jira, Salesforce, Google Workspace, Adobe Creative Cloud and many more. Its flagship product, Asana Work Graph, provides a map of how all work gets done inside an organization. It is built for scale and captures the relationship between the work that teams undertake, the information about that work, the people doing the work, and the outcomes of that work. It provides interactive dynamic views list, calendar, board, timeline, goals, portfolio, reports and more.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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