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home / news releases / asana large 2024 opportunity lies ahead

ASAN - Asana: Large 2024 Opportunity Lies Ahead

Asana Inc. Class A

2024-02-04 03:21:45 ET

Summary

  • Asana's stock has not seen the same recent rallies as other tech peers, making it a reasonably valued software vendor at 5x forward revenue.
  • Asana's long-term demand will be boosted by the shift to remote and distributed teams, as well as additions to its AI capabilities.
  • Growth is stable in the mid-teens, and the company notes it is seeing stabilization to recent macro headwinds.
  • The company is also making massive leaps in profitability and has a line of sight to breakeven pro forma margins.

If you're anything like me, you're looking at the S&P 500 approaching 5,000 and thinking: is there anything left to buy that's not trading at a bloated multiple? Especially in the growth space, is there anything reasonable that won't bite me if valuation multiples compress?...

For further details see:

Asana: Large 2024 Opportunity Lies Ahead
Stock Information
Company Name: Asana Inc. Class A
Stock Symbol: ASAN
Market: NYSE
Website: asana.com
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