#6 - Asana (NYSE:ASAN)
Asana (NYSE:ASAN) went public via a direct listing in October 2020. Since then the stock price has nearly doubled. Growth like that leads to the question of whether there is more of a run left in the stock.
To the uninitiated, Asana offers companies a workflow management platform with a focus on organizing projects. The company cites the “three C’s” of communication, content and coordination as the pillars of its system. In simpler terms it lets teams collaborate on projects with a clear understanding of who needs to deliver what and when.
And it appears that there is strong demand for the company’s product. Asana just posted 71% year-over-year revenue growth in the first quarter of 2021, and the company is projecting similarly strong numbers for the rest of the year.
The question is that, by the company’s own admission, sustained profitability will take time. For the most part, investors are willing to overlook that as long as revenue growth is sustained. While the jury is still out on ASAN stock over the long-term, in the short-term it looks to be a solid play in the tech sector.
About Asana
Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.
Read More - Current Price
- $15.74
- Consensus Rating
- Hold
- Ratings Breakdown
- 3 Buy Ratings, 9 Hold Ratings, 3 Sell Ratings.
- Consensus Price Target
- $14.27 (9.3% Downside)
