Asana, Inc. (ASAN)
NYSEInformation TechnologySoftware - ApplicationSnapshot 2026-09-04
$8.81-12.69%
Close 2026-09-04 · 1-day change
NYSEInformation TechnologySoftware - ApplicationSnapshot 2026-09-04
Warn: Management is running behind on a stated commitment.
Asana is growing revenue about 8% to 9% a year, showing progress toward management's growth goals. The company is improving profit margins and aims to reach positive net income per share in fiscal 2027. It is also increasing stock buybacks, which supports shareholder value. The pivot to AI agents could drive future demand and growth.
Asana is still loss-making and faces elevated risk. Revenue growth and profit margin improvements may stall or fall short. The recent selloff and soft guidance signal uncertainty about execution and demand. Key executives have left, which could hurt management stability.
The market prices in about 9% revenue growth and values Asana slightly below our fair value estimate. Our fair value is modestly below the Street median, reflecting cautious optimism. We differ by emphasizing risks from the recent selloff and soft guidance.
Breaks if: Stock repurchase program is reduced or canceled
Asana has increased its stock repurchase program by $160 million.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a speculative growth opportunity. The company is currently loss-making but is aiming for revenue growth and profitability through AI product expansion.
The market appears to have priced in a low expectations gap, indicating that ASAN is seen as relatively cheap compared to its peers. However, there is a divergence in valuation, with the company trading at a premium to its competitors.
Management is on track with revenue growth, targeting an increase of 8.2% to 9.2% for FY 2027. However, the company remains loss-making, and recent earnings performance has been mixed, which could pose risks in the near term.
The long-term thesis hinges on management's ability to achieve profitability targets and maintain revenue growth. Additionally, external factors such as Fed interest rate decisions and performance of sector leaders will be crucial.
The most important moves since the prior daily snapshot.
Company momentum fell by 45.5 points (from 33.4 to -12.1).
Company quality rose by 15.6 points (from 15.0 to 30.6).
Yes, our read has weakened. Analysts expect Asana's revenue growth to slow to 8.8% year on year. This is down from 9.9% in the same quarter last year. Additionally, a sharp drop in share price suggests the market is repricing the thesis. However, the company recently beat earnings expectations and is forecasting revenue growth of 8.2% to 9.2% for FY 2027.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: Non-GAAP net income per share remains below $0.37 in FY 2027
Deliver non-GAAP net income per share of $0.37 for fiscal year 2027 as a key profitability milestone.
Stated as a priority in 3 of last 3 quarters. Management consistently guided to non-GAAP net income per share of $0.37 for fiscal 2027. Actual GAAP net loss per share improved from -$0.17 in 2026-Q2 to -$0.06 in 2027-Q1, showing progress but not yet profitability. The trajectory is mixed with improving earnings but not yet delivering positive GAAP EPS.
“For fiscal 2027, Asana expects non-GAAP net income per share of $0.37, assuming diluted weighted average shares outstanding of approximately 239 million.”
“For fiscal 2027, Asana expects non-GAAP net income per share of $0.37, assuming diluted weighted average shares outstanding of approximately 239 million.”
“For fiscal 2027, Asana expects non-GAAP net income per share of $0.37, assuming diluted weighted average shares outstanding of approximately 239 million.”
Breaks if: Revenue falls below $855 million in FY 2027
Achieve year-over-year revenue growth between 8.2% and 9.2% for fiscal year 2027.
Stated as a priority in 3 of last 3 quarters. Revenue grew from $789M in fiscal 2026 to $859.5M guided for fiscal 2027, an 8.9% increase within the targeted 8.2%-9.2% range. Quarterly revenues increased from $187.3M in 2026-Q1 to $216.4M in 2026-Q3 (+16%), showing delivery ahead of guidance. The trajectory is delivering consistent revenue growth.
“For fiscal 2027, Asana expects revenues of $855.5 million to $863.5 million, representing year-over-year growth of 8.2% to 9.2%.”
“For fiscal 2027, Asana expects revenues of $855.5 million to $863.5 million, representing year-over-year growth of 8.2% to 9.2%.”
“For fiscal 2027, Asana expects revenues of $855.5 million to $863.5 million, representing year-over-year growth of 8.2% to 9.2%.”
In the next 1 to 3 years, ASAN's trajectory will depend on its execution of growth strategies and external market conditions. Not investment advice.