Asana rises after stock buyback plan unveil

Asana

20/06/2024 21:35

** Asana Inc's  ASAN.N  shares up 3.5% at $11.77 in extended
trading after office software firm unveils stock buyback
    ** Co announces up to $150 mln stock repurchase program
through Jun 30, 2025
    ** It also reaffirms previous financial guidance, other than
net loss/sh due to newly announced repurchase program
    ** ASAN shares, which fallen past 5 sessions, finished down
4.2% on Thurs at $11.37, a record low close
    ** YTD, stock has shed 40%
    ** Co has ~228.1 mln shares outstanding giving it market
value of ~$2.6 bln, per LSEG
    ** Avg rating among 16 analysts is "hold and median PT is
$17, down from $20 a month ago

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))