What to look for in ASAN according to stock history

Share history –

Work management software maker Asana (NYSE: NYSE:) will report earnings tomorrow after market hours. Here’s what to expect.

Asana beat analyst revenue expectations by 1.9% last quarter, reporting revenue of $171.1 million, up 13.9% year-over-year. It was a solid quarter for the company, with impressive growth in analyst estimates for accruals and a decent performance in analyst estimates for ARR (annual recurring revenue). Added 300 enterprise customers paying more than $5,000 per year, bringing the total to 21,646 customers.

Is the purchase or sale of Asana included in earnings? Find out by reading the original article on StockStory – it’s free.

Analysts expect Asana’s revenue this quarter to grow 10.7% year-over-year to $168.8 million, a slowdown from the 26.3% growth reported in the same quarter last year. Adjusted loss is expected to be -$0.08 per share.

Most analysts covering the company have reaffirmed their estimates over the last 30 days, suggesting they expect the company to remain on track towards earnings. Asana has a history of exceeding Wall Street expectations, beating revenue estimates by an average of 3% each time over the past two years.

Looking at Asana’s competitors in the productivity software space, some have already reported first-quarter results, which gives us a hint of what to expect. Atlassian (NASDAQ:) reported year-over-year revenue growth of 29.9%, beating analyst expectations by 8.1%, and Monday.com reported revenue growth of 33.7%, beating estimates by 3%. Following the results, Atlassian’s price fell 9.5%, while Monday.com rose 25.8%.

Read the full analysis of Atlassian and Monday.com’s results on StockStory.

Investors in the productivity software space have continued to generate profits, with share prices rising an average of 1.3% over the past month. Meanwhile, Asana is down 5.9% and heading toward earnings, with an average analyst price target of $19.4 (versus the current share price of $14).