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    Assessing Asana’s (ASAN) Valuation After Prolonged Share Price Weakness

    Simply Wall St·02/18/2026 04:51:34
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    What recent returns are telling investors about Asana (ASAN)

    Asana (ASAN) has been on many watchlists after a stretch of weak share performance, with the stock down over the past month, past 3 months, year to date, and over the past year.

    Those returns, including a 2.6% decline over the past day and double digit drops across recent periods, are prompting investors to look more closely at how Asana’s business metrics line up with its current share price.

    See our latest analysis for Asana.

    At a share price of US$7.36, Asana’s recent 30 day and year to date share price returns show fading momentum, while the 1 year and multi year total shareholder returns indicate a much tougher overall journey.

    If you are reassessing your software exposure after Asana’s recent weakness, it could be a good time to scan other work related and productivity names using our list of 58 profitable AI stocks that aren't just burning cash as potential starting points.

    With the share price at US$7.36, a value score of 5, an intrinsic discount of 54% and annual revenue of US$773.57m against a net loss of US$219.11m, is this weakness a genuine opportunity, or is the market already pricing in future growth?

    Most Popular Narrative: 52.6% Undervalued

    At a last close of $7.36 against a narrative fair value estimate of $15.54, Asana is framed as materially undervalued, with that gap tied to specific growth and margin assumptions rather than sentiment alone.

    Product innovation (AI Studio Plus self-serve, Smart Workflow Gallery, new add-ons for compliance, permissions, time sheets, and budgeting) is systematically increasing customer retention and reducing churn, leading to higher net dollar retention rates and greater customer lifetime value.

    Read the complete narrative.

    Want to see what is baked into that premium future earnings story? The fair value hinges on a specific revenue glide path, a profit margin shift, and a richer future earnings multiple. Curious which of those assumptions matters most for that $15.54 figure, and how they stack up against current losses and share count expectations? The full narrative lays out the numbers very clearly.

    Result: Fair Value of $15.54 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, this story can break if competitive pressure from larger suites or weaker renewal trends hit net retention and make that premium future P/E harder to justify.

    Find out about the key risks to this Asana narrative.

    Next Steps

    Reading this, you can probably sense there is a genuine mix of concern and optimism around Asana. Act while the details are fresh in your mind, weigh the numbers for yourself, and then round out your view by checking the 3 key rewards and 2 important warning signs.

    Ready for more investment ideas?

    If Asana has sharpened your thinking, do not stop here. Use the Simply Wall St screener to quickly spot fresh ideas that fit your style and risk comfort.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.