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Stock impact report

Spotting Winners: Asana (NYSE:ASAN) And Productivity Software Stocks In Q4 [Yahoo! Finance]

SoundHound AI, Inc. - Class A (SOUN) 
Company Research Source: Yahoo! Finance
Rising employee costs and the shift to more remote work has increased the ever-present pressure to improve corporate productivity, which in turn has driven rising demand for productivity software that enables remote work, streamline project management and automate business tasks. The 17 productivity software stocks we track reported a mixed Q4. As a group, revenues beat analysts' consensus estimates by 1.3% while next quarter's revenue guidance was in line. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 18.9% since the latest earnings results. Founded in 2008 by Facebook's co-founder Dustin Moskovitz, Asana (NYSE:ASAN) is a cloud-based project management software, where you can plan and assign tasks to employees and monitor and discuss progress of work. Asana reported revenues of $188.3 million, up 10% year on year. This print was in line with analysts' expectations, and overall, it was a strong quarter for the company with Show less Read more
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