ASAN - Is Asana Choosing Growth Over Profits? 4 Analysts Drill Down Into Q4 Results | Benzinga
Shares of Asana Inc (NYSE: ASAN) were tanking on Tuesday, even after the company reported upbeat fourth-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
DA Davidson On Asana
Analyst Gil Luria maintained a Neutral rating and price target of $20.
"Asana reported a solid quarter with management sounding upbeat about the opportunity for reacceleration of revenue moving forward,” Luria wrote in a note. AI was accretive to revenue growth in the quarter, with more than 20,000 customers adopting new tiers to access AI features, he added.
Asana's performance among non-tech large customers was strong, "with stabilizing net retention rates and ARR growth in the high teens,” the analyst stated.
JMP Securities On Asana
Analyst Patrick Walravens reiterated a Market Outperform rating and a price target of $27.
Asana reported better-than-expected quarterly results and its guidance was largely in line ...