ASAN - Asana Is a Growth Machine
Asana 's (NYSE: ASAN) stock price has fallen 46% from its all-time high just over a month ago as more and more growth stocks get hammered in the market. Despite the drop, this is still a high-growth machine in the valuable enterprise market.
What investors are grappling with now is how valuable Asana stock should be. The maker of team-based work management software grew its revenue at an astounding 70% in the third quarter. But even with that strong growth and the recent stock price drop, shares are trading at a lofty price-to-sales ratio of 39.
That's still a rich price, but for a high-quality company like this, it may be worth it.
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Asana Is a Growth Machine