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Asana, Inc. (ASAN) Stock Sinks As Market Gains: What You Should Know

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Asana, Inc. (ASAN - Free Report) closed the most recent trading day at $135.29, moving -0.81% from the previous trading session. This move lagged the S&P 500's daily gain of 0.39%. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq lost 0.03%.

Heading into today, shares of the company had gained 15.69% over the past month, outpacing the Computer and Technology sector's gain of 5.55% and the S&P 500's gain of 4.82% in that time.

ASAN will be looking to display strength as it nears its next earnings release, which is expected to be December 2, 2021. The company is expected to report EPS of -$0.26, up 23.53% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $93.62 million, up 58.92% from the year-ago period.

ASAN's full-year Zacks Consensus Estimates are calling for earnings of -$0.97 per share and revenue of $358.37 million. These results would represent year-over-year changes of +16.38% and +57.87%, respectively.

Investors might also notice recent changes to analyst estimates for ASAN. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ASAN is currently a Zacks Rank #2 (Buy).

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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