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?...
Read the full article on Seeking Alpha
For further details see:
Asana: Large 2024 Opportunity Lies Ahead