Asana soars on better-than-expected results, FY revenue forecast

Asana

31/05/2024 12:04

** Shares of office software platform Asana  ASAN.N  rise
13.2% to $14.86 premarket after five straight sessions of losses
    ** Co's adj. net loss narrowed to $0.06/shr vs $0.09
loss/shr a year before; analysts were expecting loss of
$0.08/shr
    ** ASAN's quarterly revenue jumps 13% to $172.4 mln from a
year ago
    ** Forecasts FY25 revenue between $719 mln and $724 mln, the
mid-point of which is above analysts' estimates of $719.3 mln -
LSEG data
    ** Four of 16 brokerages rate the stock "buy" or higher,
eight "hold" and four "sell" or lower; their median PT is $20
    ** Stock on Thursday plunged to its 16-months-low
    ** Up to last close, stock had fallen ~40% YTD

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com))