ASAN - Asana: Buy Amid Latest Dip And New Buybacks (Ratings Upgrade)

2024-06-25 00:59:19 ET

Summary

• Asana has fallen sharply in May and June, despite a strong Q1 earnings print that showed barely any deceleration in revenue.
• The company has maintained a very conservative outlook for FY25, positioning itself for further beat-and-raise quarters.
• The stock trades at a very cheap ~3x FY26 revenue multiple.

While AI-powered tech stocks have fueled the market rally to new all-time highs, there are a number of significant holdouts, especially among small and mid-cap software stocks. It's these more overlooked plays, in my opinion, that deserve our attention as we look to brace our portfolios for a potential correction....

For further details see: