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home / news releases / ASAN - Why did Asana stock surge today? Tech rebound lifts shares

ASAN - Why did Asana stock surge today? Tech rebound lifts shares

Asana Inc. Class A

  • Asana ( NYSE: ASAN ) shares surged more than 12% on Tuesday as the broader technology sector turned around and rose, aided by a decline in interest rates.
  • Other software stocks rose sharply as well, including 2% gains for Salesforce ( CRM ), Adobe ( ADBE ) and Intuit ( INTU ).
  • The broader Nasdaq rose more than 1.5% on Tuesday, aided by large cap stocks such as Tesla ( TSLA ), Google ( GOOG ) ( GOOGL ) and Amazon ( AMZN ).
  • Last month, several analysts lowered their price target on Asana ( ASAN ) after its losses continued to widen and it gave guidance that fell short of estimates.
  • Asana ( ASAN ) lost an adjusted 30 cents per share on $120.65M in revenue, compared to an estimated loss of 24 cents per share on $115.11M.
  • For the second-quarter, Asana ( ASAN ) said it expects adjusted losses to be between 38 and 39 cents per share, compared to an adjusted loss of 37 cents per share.

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Why did Asana stock surge today? Tech rebound lifts shares
Stock Information
Company Name: Asana Inc. Class A
Stock Symbol: ASAN
Market: NYSE
Website: asana.com
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