- Shares of Asana have dropped ~35% for no reason other than investors' jitteriness toward tech stocks.
- Meanwhile, the company has continued at a blazing fast pace of growth, with Q4 revenues accelerating to 57% y/y growth.
- Asana is one of the few stocks growing at a ~50% y/y pace that is trading at a ~15x forward revenue multiple. Viewed from that lens, the stock is cheap.
- Demand for its collaboration and workflow tools will only become more relevant as remote work becomes a permanent fixture of many companies.
For further details see:
Asana: An Obvious Buying Opportunity Has Surfaced