Not a good buy right now for an impatient buyer: price is in a strong downtrend and is trading below a key support area (S1 9.36) in pre-market (9.23).
The stock is extremely oversold (RSI-6 ~12.5), so a short-term bounce is possible, but there’s no confirmation signal and momentum (MACD) is still deteriorating.
Options positioning looks bullish/“risk-on” (call-skew), but that alone doesn’t outweigh the bearish trend and continued multiple-compression narrative.
Trend/Momentum: Bearish structure with SMA_200 > SMA_20 > SMA_5 (clear downtrend). MACD histogram -0.149 and negatively expanding = downside momentum still building.
Overbought/Oversold: RSI_6 = 12.515 (deeply oversold) → raises odds of a reflex bounce, but oversold can persist in downtrends.
Levels: Pivot 10.399. Immediate support: S1 9.36 (already breached pre-market), next support S2 8.718. Resistance zones: R1 11.438 then R2 12.08.
Near-term read: Unless ASAN reclaims ~9.36 and starts basing, the path of least resistance remains down despite “oversold” conditions.
Options Data
Bullish
Open Interest Put-Call Ratio
Bullish
Option Volume Put-Call Ratio
Sentiment/Skew: Put/Call ratios are low (OI PCR 0.55; Volume PCR 0.28) → call-heavy positioning, typically bullish/speculative sentiment.
Volatility: IV_30d 82.86 vs HV 52.54 (IV materially above realized) with IV percentile 76.8 / IV rank 60.19 → options are priced expensive; market expects large moves.
Activity: Today’s volume 2,375 (94% of 30-day avg) and OI ~102,647 (101% vs 30-day avg) → participation is healthy but not a blow-off extreme.
Takeaway: Options market is leaning bullish, but high IV implies you’re paying up for protection/convexity; the tape still needs to confirm a turn.
Technical Summary
Sell
9
Buy
5
Positive Catalysts
can spark a sharp mean-reversion bounce if support reclaims.
Analyst narrative headwinds: “seat-compression/vibe coding” and software multiple ceilings (Piper) + “AI is the death of software” pressure (RBC).
Competitive/GTMS headwinds: top-of-funnel pressure tied to AI search/SEO trends cited by RBC; heavy competition around agents (DA Davidson).
No fresh news catalyst in the last week to force a regime change in sentiment.
Financial Performance
Latest quarter: 2026/Q3.
Revenue: $201.033M, +9.33% YoY (continued growth but not rapid acceleration).
Profitability trend: Net income -$68.433M (improved 19.38% YoY) and EPS -0.29 (improved 16% YoY) → losses narrowing.
Margin: Gross margin 88.9% (down 0.37% YoY) → still very high, slight compression.
Trading flows: Hedge funds neutral (no notable last-quarter trend); insiders neutral (no notable last-month trend).
Congress/politicians: No recent congress trading data available in the last 90 days.
Growth
Profitability
Efficiency
Analyst Ratings and Price Target Trends
Recent direction: Price targets have been cut/trimmed across the street, reflecting sector multiple compression and cautious software sentiment.
Latest notable change: Piper Sandler kept Overweight but cut PT to $14 (from $19) (2026-02-02) citing “seat-compression/vibe coding” as a ceiling on multiples.
Bear view: RBC remains Underperform; PT reduced to $11 (from $14) (2026-01-05), emphasizing uneven AI tailwinds and narrative pressure.
Mixed/neutral cluster: BTIG initiated Neutral; UBS/Citi/DA Davidson mostly Neutral with PTs in mid-teens; they acknowledge improving retention/margins but want clearer growth acceleration.
Bull view: KeyBanc upgraded to Overweight with $18 PT; BofA stays Buy but cut PT to $17 (from $19).
Wall St. pros vs cons: Pros = improving retention/operating leverage signals and potential AI-related upside later; Cons = growth not accelerating, competitive pressure, and valuation/multiple ceiling narrative keeps targets drifting lower.
People Also Watch
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 15.7 USD with a low forecast of 11 USD and a high forecast of 19 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
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 15.7 USD with a low forecast of 11 USD and a high forecast of 19 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.
3 Buy
6 Hold
2 Sell
Hold
Current: 8.460
Low
11
Averages
15.7
High
19
Current: 8.460
Low
11
Averages
15.7
High
19
Piper Sandler
Overweight -> NULL
downgrade
$19 -> $14
AI Analysis
2026-02-02
Reason
Piper Sandler
Price Target
$19 -> $14
AI Analysis
2026-02-02
downgrade
Overweight -> NULL
Reason
Piper Sandler lowered the firm's price target on Asana to $14 from $19 and keeps an Overweight rating on the shares following a transfer of coverage. The firm downgraded three names and cut price targets across the platforms and apps group, saying "seat-compression and vibe coding narratives could set a ceiling on multiples." Piper is not making a call on the Q4 reports. Rather, the analyst has mixed views on the software space despite share declines in the past 12 months. The firm expects continued "pessimism" around software and recommends investors focus on the hyperscaler, consumption and vertical sub-sectors. Piper's top picks are Microsoft and ServiceTitan.
RBC Capital
Underperform
downgrade
$14 -> $11
2026-01-05
Reason
RBC Capital
Price Target
$14 -> $11
2026-01-05
downgrade
Underperform
Reason
RBC Capital lowered the firm's price target on Asana to $11 from $14 and keeps an Underperform rating on the shares. 2026 is likely to be a year when AI tailwinds become more evident for companies well positioned for enterprise AI adoption, while less prepared peers may remain pressured by the "AI is the death of software" narrative, the analyst tells investors in a research note. Enterprise spending appears to be stabilizing and improving in select areas, with GenAI driving innovation even as management teams remain conservative in early 2026 guidance, the firm says.
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