Is Now a Good Time to Invest in Asana Stock?
Asana's (NYSE: ASAN) stock price dropped more than 10% from its all-time highs since it started trading last week. Should investors take that opportunity to invest in the software-as-a-service (SaaS) work collaboration specialist?
Facebook co-founder Dustin Moskovitz founded Asana in 2008 to develop easy-to-use cloud software that facilitates work coordination. The company's solution aims at reducing the need for complex project management products and lengthy emails and meetings.
To fuel its growth, the company adopted a land-and-expand strategy: It proposes a free basic offering that it hopes to upsell with paid features as customers expand their use of the tool. As the solution integrates with more than 100 applications, such as Microsoft's communications platform Microsoft Teams, it is also becoming part of enterprises' workflows, which increases its stickiness.
Source Fool.com
