Buy Signal on Asana (ASAN-US)
Asana is a USD 3.6bn Bn market cap which offers work management platform. Solution enables individuals to collaborate with teammates and have visibility into each team member responsibilities and progress. The Company enables executives to communicate company-wide goals, monitor status, and oversee work across projects to gain real-time insights into which initiatives are on track or at risk. Asana is powered by its multi-dimensional data model called the work graph. The work graph captures and associates units of work, the people responsible for executing those units of work, the processes in which work gets done, information about that work, and the relationships across and within the data.
Remote work is expected to remain a fixture of our modern office for posterity. Even when the pandemic is over, many companies have planned to increase their proportion of remote workers because it's positive for employee flexibility and it also helps companies reduce their real estate footprint and cut down on overhead.
Asana has a very strong gross margin profile in the software sector, which gives it tremendous runway for future profitability. In its most recent quarter, Asana's pro forma gross margins notched 88% and even grew more than one point year over year - meaning nearly every dollar of incremental revenue flows through to the bottom line.
Despite being a relatively new platform, Asana has struck deals and built integrations with some of the biggest names in enterprise software, including Slack, Zoom, and Microsoft.
Asana is founded and led by Facebook co-founder Dustin Moskovitz.
Asana is expected to post a $339M revenue in 2021 (01.2022), corresponding to a 50% growth, coupled with an EBITDA loss of $-180m.
Short term catalyst : remote work megatrend.
This signal looks consistent with the US Software sector in Major Bullish Trend.