Volatile ride for Asana Inc. stock price on Thursday moving between $73.21 and $80.74 (Updated on August 12, 2021)
The Asana Inc. stock price gained 5.81% on the last trading day (Thursday, 12th Aug 2021), rising from $74.47 to $78.80. , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the day the stock fluctuated 10.29% from a day low at $73.21 to a day high of $80.74. The price has risen in 6 of the last 10 days and is up by 10.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $162.93 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 133.58% during the next 3 months and, with a 90% probability hold a price between $172.82 and $209.51 at the end of this 3-month period.
Is Asana Inc. stock A Buy?
Asana Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
At the end of Q2, 212 funds had a position in the stock, up sharply from 55 funds at the end of September last year.
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(30/08) - Bron: Reuters
* Asana Inc is expected to report results on September 1.
* The San Francisco, California-based company is expected to report revenue of $82.245 million, according to the mean estimate from 10 analysts, based on Refinitiv data.
* Refinitiv's mean analyst estimate for Asana Inc is for a loss of 26 cents per share.
* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell."
* The mean earnings estimate of analysts was unchanged in the last three months.
* Wall Street's median 12-month price target for Asana Inc is $75, about 3.2% below its last closing price of $77.39.
Second quarter revenue growth accelerated to 72% year over year
Revenues from customers spending $5,000 or more on an annualized basis grew 97% year over year
Customers spending $50,000 or more on an annualized basis increased to 598, up 111% year over year
Raised fiscal year 2022 revenue outlook
SAN FRANCISCO, September 01, 2021--(BUSINESS WIRE)--Asana, Inc. (NYSE: ASAN)(LTSE: ASAN), a leading work management platform for teams, today reported financial results for its second quarter fiscal 2022 ended July 31, 2021.
"In the second quarter we accelerated total revenue growth, continued to report strong customer growth and increased dollar-based net retention rates across the board," said Dustin Moskovitz, co-founder and chief executive officer of Asana. "Customers are adopting Asana everywhere: across our major geographies and across all sizes of teams. We saw particular strength in the enterprise, with the number of customers spending over $50,000 up 111 percent. Stay tuned for more enterprise announcements in October."
Second Quarter Fiscal 2022 Financial Highlights
Revenues: Revenues were $89.5 million, an increase of 72% year over year.
Operating Loss: GAAP operating loss was $60.1 million, or 67% of revenues, compared to GAAP operating loss of $33.6 million, or 65% of revenues, in the second quarter of fiscal 2021. Non-GAAP operating loss was $38.6 million, or 43% of revenues, compared to non-GAAP operating loss of $27.2 million, or 52% of revenues, in the second quarter of fiscal 2021.
Net Loss: GAAP net loss was $68.4 million, compared to GAAP net loss of $41.1 million in the second quarter of fiscal 2021. GAAP net loss per share was $0.40, compared to GAAP net loss per share of $0.54 in the second quarter of fiscal 2021. Non-GAAP net loss was $39.8 million, compared to non-GAAP net loss of $26.3 million in the second quarter of fiscal 2021. Non-GAAP net loss per share was $0.23, compared to non-GAAP net loss per share of $0.34 in the second quarter of fiscal 2021.
Cash Flow: Cash flows from operating activities were negative $8.5 million, compared to negative $22.1 million in the second quarter of fiscal 2021. Free cash flow was negative $9.3 million, compared to negative $21.9 million in the second quarter of fiscal 2021.
Ended the second quarter with over 107,000 paying customers.
The number of customers spending $5,000 or more on an annualized basis grew to 12,806, an increase of 61% year over year. Revenues from these customers grew 97% year over year.
The number of customers spending $50,000 or more on an annualized basis grew to 598, an increase of 111% year over year.
Overall dollar-based net retention rate was over 118%.
Dollar-based net retention rate for customers with $5,000 or more in annualized spend was over 125%.
Dollar-based net retention rate for customers with $50,000 or more in annualized spend was over 145%.
Unveiled new productivity suite features including video messaging, intelligent prioritization and smart calendar assistant, and a new desktop app.
Expanded to include three new languages - Korean, Swedish, and Italian. Asana is now available in 13 languages, empowering global teams in their native languages.
Announced Asana app for Zoom, available in the Zoom App Marketplace, allowing distributed teams to drive meeting workflows and collaborate.
Topped G2’s Enterprise Grid® for the eighth consecutive quarter.
Recognized by Fortune and Great Place to Work® as one of the Best Small & Medium Workplaces for 2021. Marking the fifth year for Asana in the list's top ten rankings.
For the third quarter of fiscal 2022, Asana expects:
Revenues of $93 million to $94 million, representing year over year growth of 58% to 60%.
Non-GAAP operating loss of $49 million to $47 million.
Non-GAAP net loss per share of $0.27 to $0.26, assuming basic and diluted weighted average shares outstanding of approximately 184 million.
For fiscal year 2022, Asana expects revenues of $357 million to $359 million, representing year over year growth of 57% to 58%.
These statements are forward-looking and actual results may materially differ. Refer to the "Forward-Looking Statements" section below for information on the factors that could cause Asana’s actual results to materially differ from these forward-looking statements.
A reconciliation of non-GAAP outlook measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, many of these costs and expenses that may be incurred in the future. Asana has provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for its second quarter fiscal 2022 non-GAAP results included in this press release.
Asana will hold a conference call and live webcast today to discuss these results at 1:30 p.m. Pacific Time. A live and replay webcast will be available on the Asana Investor Relations website at: https://investors.asana.com.Earnings Conference Call Information
https://finance.yahoo.com/news/asana-an ... 00485.html
Baird Adjusts Asana PT to $90 From $50, Maintains Outperform Rating
JMP Securities Adjusts Asana PT to $85 From $82, Maintains Outperform Ra..
Wolfe Research Adjusts Asana PT to $87 From $75, Maintains Outperform Ra..
JPMorgan Adjusts Price Target for Asana to $71 From $34, Maintains Neutr..
Oppenheimer Adjusts Asana PT to $85 From $77, Maintains Outperform Ratin..
KeyBanc Adjusts Asana's Price Target to $85 From $75, Keeps Overweight R
Why Asana Shares Were Flying High on Thursday. The company's trailing and anticipated results topped analyst expectations.
Shares of Asana (NYSE:ASAN) are soaring today, up by 15.6% as of 3:47 p.m. EDT. Investors are showing their appreciation for the workplace software solutions provider's solid fiscal Q2 2022 performance.
Asana published those quarterly results after market hours Wednesday, revealing that it earned $89.5 million in revenue -- a 72% year-over-year increase. Meanwhile, the company's non-GAAP (adjusted) net loss widened to just under $40 million ($0.23 per share) versus the Q2 2021 loss of slightly over $27 million.
On average, analysts following Asana stock were expecting a lower top-line figure of $82.3 million and a deeper net loss of $0.26 per share.
The tech company attributed the better-than-anticipated improvements largely to organic growth. In the press release, CEO Dustin Moskovitz said, "Customers are adopting Asana everywhere: across our major geographies and across all sizes of teams. We saw particular strength in the enterprise, with the number of customers spending over $50,000 up 111%."
That growth figure topped that of customers spending at least $5,000 on an annualized basis, which was up 61%.
Asana is clearly feeling confident about the future. It has raised its full-year fiscal 2022 revenue guidance, believing it will earn $357 million to $359 million. This would represent year-over-year growth of at least 57%.
Meanwhile, the company's Q3 guidance topped analyst estimates. Asana is expecting revenue of $93 million to $94 million, with non-GAAP net loss coming in at $0.26 to $0.27 per share. Prognosticators had been modeling for revenue of $86.7 million and $0.28-per-share loss.
https://www.fool.com/investing/2021/09/ ... gn=article
Number of Hedge Fund Holders: 22
Asana, Inc. touched a new 52-week high of $94.81 after announcing its second-quarter results above expectations. The software company reported an adjusted loss of 23 cents per share for the quarter ended July 31, narrower than the adjusted loss of 34 cents per share in the comparable period of 2020.
Revenue for the quarter climbed 72 percent on a year-over-year basis to $89.5 million. Analysts, on average, were expecting Asana, Inc. to report a loss of 26 cents per share on $82.3 million in revenues.
Speaking on the results, CEO Dustin Moskovitz said:
"In the second quarter we accelerated total revenue growth, continued to report strong customer growth and increased dollar-based net retention rates across the board. Customers are adopting Asana everywhere: across our major geographies and across all sizes of teams. We saw particular strength in the enterprise, with the number of customers spending over $50,000 up 111 percent. Stay tuned for more enterprise announcements in October."
Asana, Inc. also issued the sales outlook for its fiscal third quarter and fiscal year 2022. It is anticipating revenue in the range of $93 million to $94 million for Q3, translating to year-over-year growth of 58-60 percent. For the full year, it expects revenues between $357 million and $359 million, representing year-over-year growth of 57-58 percent.
https://finance.yahoo.com/news/10-earni ... 45078.html