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Is This The Best Time To Buy Asana Inc. (NYSE: ASAN) Stock?

Asana Inc. (NYSE:ASAN) traded at $14.42 at close of the session on Monday, 01/23/23, made an upward move of 6.11% on its previous day’s price.

Looking at the stock we see that its previous close was $13.59 and the beta (5Y monthly) reads 1.34 with the day’s price range being $13.46 – $14.42. In terms of its 52-week price range, ASAN has a high of $74.89 and a low of $11.32. The company’s stock has gained about 5.18% over that past 30 days.

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Asana Inc. has a market cap of $2.96 billion and is expected to release its quarterly earnings report on Mar 07, 2023 – Mar 13, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.32, with the EPS growth for the year raised at -$1.25 for 2023 and -$0.97 for next year. These figures represent -35.90% and 22.40% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $138.98 million, with a low of $138.6 million and a high of $139.35 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $545.66 million, or 44.20% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ASAN stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 16 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 10 have rated the Asana Inc. (ASAN) stock as a Hold, while 4 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 8.69% off its SMA20 and -6.70% from its 50-day simple moving average. The RSI (14) is pointing at 52.54 while the volatility over the past week is 7.62% and jumps to 7.36% over the past one month. The average price target for the stock over the next 12 months is $18.86, with the estimates having a low of $10.00 and a high of $30.00. These price ends are 30.65% and -108.04% off the current price level respectively, although investors could be excited at the prospect of a -24.83% if the ASAN share price touches on the median price of $18.00.

Coming back to Asana Inc. (NYSE:ASAN), we note that the average 3-month trading volume was 3.59 million, while that of the preceding 10-day period stands at 3.46 million. Current shares outstanding are 204.66 million.

The insiders hold 31.60% of the company’s shares while institutions hold 48.10%. The data shows that short shares as of Oct 13, 2022, stood at 15.94 million at a short ratio of 3.67. This represents a 7.55% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 18.63 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 4.72% up in year-to-date price movement.

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