This story originally appeared on Zacks
In the latest trading session, Asana, Inc. (ASAN) closed at $54.10, marking a -0.46% move from the previous day. This change lagged the S&P 500’s 2.24% gain on the day. Meanwhile, the Dow gained 2.51%, and the Nasdaq, a tech-heavy index, lost 0.2%.
– Zacks
Heading into today, shares of the company had gained 19.56% over the past month, outpacing the Computer and Technology sector’s loss of 3.39% and the S&P 500’s loss of 2.58% in that time.
Asana, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be March 9, 2022. On that day, Asana, Inc. is projected to report earnings of -$0.28 per share, which would represent a year-over-year decline of 27.27%. Our most recent consensus estimate is calling for quarterly revenue of $105.07 million, up 53.68% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Asana, Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Asana, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Just Released: Zacks Top 10 Stocks for 2022
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022?
From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Asana, Inc. (ASAN): Free Stock Analysis Report
To read this article on Zacks.com click here.
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
