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Huge News for Asana, and Investors Aren't Happy

The growth story for Asana looks like it's ending prematurely.

By Travis Hoium – Dec 6, 2023 at 5:00PM EST

Asana (ASAN +10.66%) reported quarterly results on Wednesday, and the market didn't like the trends in the business. Not only is the work management software company still losing money, growth is slowing to a crawl, and customers seem to be reducing their spend.

In this video, Travis Hoium covers Asana's trends and shows why this stock still isn't a great buy, despite its product being a customer favorite.

*Stock prices used were end-of-day prices of Dec. 6, 2023. The video was published on Dec. 6, 2023.

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About the Author

Travis Hoium
Travis Hoium is a contributing Motley Fool stock market analyst covering solar energy, technology, and growth stocks. Before The Motley Fool, Travis was a mechanical engineer at 3M and founded a virtual reality company. He holds a bachelor’s degree in mechanical engineering and a master’s degree in business administration from the University of Minnesota.
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Travis Hoium has positions in Asana. The Motley Fool has positions in and recommends Asana. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

Stocks Mentioned

Asana Stock Quote
Asana
NYSE: ASAN
$6.08
(+10.66%)+$0.59

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

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