Free cash flow generation at a 23% margin and a 24% average earnings surprise over recent quarters demonstrate operational discipline; however, quality scores below the minimum acceptable floor, a confirmed price downtrend with a death cross, a put/call ratio of 5-to-1, and 35% short interest create an adverse risk profile that does not support holding a position.
Thesis pillars
- Fcf Positive Despite Gaap Loss→Stable
- Below Minimum Quality Floor↑Improving
- Consistent Earnings Outperformance→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Mar 13, 2026
Asana, Inc. (ASAN) Stock Analysis
Technology · Software - Application
Sell if holding. Engine safety override at $11.75: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10. Specifically: High short interest: 21%; Below-average business quality.
Asana provides a cloud-based work management platform serving over 180,000 paying customers across 200 countries as of January 31, 2026, with revenue from seat-based subscriptions across Personal, Starter, Advanced, Enterprise, and Enterprise+ tiers plus AI add-on products. The... Read more
Sell if holding. Engine safety override at $11.75: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10. Specifically: High short interest: 21%; Below-average business quality. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.3/10, moderate confidence.
Passes 6/9 gates (positive momentum, clean insider activity, news boost analyst 0.60, earnings proximity 34d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: aggressive.
About Asana, Inc.
About Asana, Inc.
Asana's platform served over 180,000 paying customers across 200 countries and territories as of January 31, 2026, including 25,928 Core customers spending $5,000 or more annually and 817 customers spending $100,000 or more. The company reported a net loss of $189.0 million for fiscal year ended January 31, 2026, and an accumulated deficit of $2,149.7 million. Revenue derives substantially from seat-based subscriptions to a single collaborative work management platform.
Asana sells subscriptions through five tiers—Personal, Starter, Advanced, Enterprise, and Enterprise+—supplemented by AI-augmented add-on products including AI Teammates and AI Studio. Distribution combines a product-led motion using free trials and self-service with a direct sales team and channel partners spanning more than 50 countries. For Core customers, the dollar-based net retention rate was 97% as of January 31, 2026; for customers spending $100,000 or more annually, it was 96%, comprising 817 accounts. The platform integrates with over 300 third-party applications and maintains partnerships with OpenAI and Anthropic to power AI features. Cloud infrastructure runs on Amazon Web Services as the preferred cloud provider. The 10-K identifies competitive pressure from large productivity suite vendors, specialized work management solutions, and companies that may incorporate AI to improve their offerings.
Show full overview
Asana has achieved FedRAMP 'In Process' designation at the Moderate level, positioning the company to serve government agencies and regulated industries through Asana Gov. The 10-K also notes that revenue growth may be affected by macroeconomic conditions—including tariffs, fluctuating interest rates, and instability in financial markets—that could weigh on software spending, and that longer sales cycles and reduced renewal rates have been observed in prior periods as a result of these conditions.
See also: Technology · Software - Application
From Asana, Inc.'s most recent 10-K filing, extracted June 9, 2026.
Recent developments
updated 2026-10-29Recent Developments — Asana, Inc.
Latest news
- NEWS BofA Securities Lifts Asana Price Target to $12.75 From $10.75, Maintains Buy Rating — fiscal.ai Oct 23, 2026 positive
- NEWS Asana Announces Integration with Cloudflare OS — fiscal.ai Oct 19, 2026 positive
- NEWS 12 Information Technology Stocks Moving In Thursday's After-Market Session — benzinga Oct 8, 2026 neutral
- NEWS Asana Appoints CEO Dan Rogers As Board Chair, Effective Sept. 25, Succeeding Dustin Moskovitz — benzinga Sep 28, 2026 neutral
- NEWS Benzinga Bulls and Bears: Palo Alto, Ciena, Lululemon — benzinga Sep 5, 2026 neutral
Generated 2026-10-29T11:08:50Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHProductsingle software solution10-K Item 1A: 'We derive substantially all of our revenues from a single software solution and products available as add-ons to that solution'
Material Events(8-K, last 90d)
- 2026-04-20Item 5.02LOWDirectors Matt Cohler, Adam D'Angelo, and Lorrie Norrington tendered resignations on April 14, 2026, effective at the 2026 Annual Meeting (June 8, 2026). Described as orderly Board refreshment. No disagreements cited.SEC filing →
- 2026-03-13Item 5.02LOWCompensation Committee adopted Incentive Bonus Plan on March 10, 2026, allowing cash incentive bonus awards to employees including CEO and CFO based on performance goals. Routine compensatory arrangement.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
3 floor-breakers
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Unprofitable operations — net margin -18.6%. Quality floor flags this regardless of sector context.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $11.75: a dimension score below its floor triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10. Specifically: High short interest: 21%; Below-average business quality. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $10.93. Score 5.3/10, moderate confidence.
Analyst target $8.90 reached (−24.2% from $11.75); no take-profit level is published. Prior stop was $10.93. Stop-loss: $10.93.
Concentration risk — Product: single software solution; Target reached (-24.2% upside); Quality below floor (3.9 < 4.0).
Asana, Inc. trades at a P/E of N/A (forward 25.8). TrendMatrix value score: 6.8/10. Verdict: Sell.
22 analysts cover ASAN with a consensus score of 3.5/5. Average price target: $10.
What does Asana, Inc. do?Asana provides a cloud-based work management platform serving over 180,000 paying customers across 200 countries as of...
Asana provides a cloud-based work management platform serving over 180,000 paying customers across 200 countries as of January 31, 2026, with revenue from seat-based subscriptions across Personal, Starter, Advanced, Enterprise, and Enterprise+ tiers plus AI add-on products. The company reported a net loss of $189.0 million for fiscal year ended January 31, 2026.