ASAN - Asana Stock Is Soaring Today - Here's Why | Benzinga
B of A Securities analyst Michael Funk initiated coverage on Asana Inc (NYSE:ASAN) with a Buy rating and a price target of $25.
Asana is a leading work management platform that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.
Funk expects near-term choppiness in reported key metrics as Asana develops its enterprise go-to-market muscle.
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However, he noted the company as a show-me story with an attractive risk-reward profile at current levels and recommended investors buy the stock ahead of positive estimate revisions.
Given the clear unit economics benefits, the company’s increasing focus on the enterprise market looks prudent, per the analyst.
As the revenue mix increasingly shifts towards its base of ...