Is It Too Late to Buy Asana Stock?
Asana's (NYSE: ASAN) stock jumped 19% on March 9 after the company posted its latest earnings report. For the fourth quarter of fiscal 2023, which ended on Jan. 31, the collaboration software company's revenue rose 34% year over year to $150 million and beat analysts' estimates by $5 million. It narrowed its adjusted net loss from $47 million to $33 million, or $0.15 per share, which also cleared the consensus forecast by $0.12.
For the full year, Asana's revenue increased 45% to $574 million, compared with its 67% growth in fiscal 2022, but its adjusted net loss widened from $163 million to $207 million. Asana is still growing rapidly, but is it too late to buy the stock after its year-to-date rally of about 40%?
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Source Fool.com
