Despite Modest Q1 Revenue Beat, Asana's Future Moderation Triggers Cautious Outlook: Analysts
Portfolio Pulse from Anusuya Lahiri
Asana reported Q1 FY24 revenue growth of 26% Y/Y to $152.4 million, beating consensus estimates. Analysts maintain a cautious outlook due to future moderation, despite the revenue beat and margin improvement. Price targets have been raised by JMP Securities, Oppenheimer, and Piper Sandler.
June 02, 2023 | 6:29 pm
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NEUTRAL IMPACT
Asana's Q1 FY24 revenue beat estimates, but analysts maintain a cautious outlook due to future moderation. Price targets have been raised by multiple firms.
Asana reported better-than-expected Q1 FY24 revenue, but analysts remain cautious due to future moderation in growth. Despite the revenue beat and margin improvement, the stock price is trading lower, indicating that the market is also cautious about the company's future prospects. The raised price targets by multiple firms show a mixed outlook, leading to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100