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Asana ASAN shares have surged 42.8% in the past six months compared with the Zacks Internet - Software industry’s return of 20.1% and the broader Zacks Computer & Technology sector’s growth of 6.6%.
The outperformance can be attributed to the successful launch of AI Studio in the third quarter of fiscal 2025, which drove significant customer demand, increased multi-year deals, and expansion across various industry verticals, further solidifying its market presence.
This surge in demand is also reflected in Asana’s growing customer base. Asana’s number of Core customers, those spending $5,000 or more annually, rose to 23,609, up 11% year over year, reflecting stronger product value.
Additionally, customers spending $100,000 or more annually rose to 683, marking an 18% year-over-year increase, further highlighting Asana’s appeal to larger organizations.
Asana, Inc. Price and Consensus
Asana, Inc. price-consensus-chart | Asana, Inc. Quote
ASAN Benefits From Expanding Clientele
Asana’s expanding clientele, which includes Datacom, MasterCard MA and Alphabet GOOGL, has been a major growth driver for its success.
In the third quarter of fiscal 2025, Asana launched a partnership with Mastercard, offering Mastercard Business cardholders a 20% rebate on an annual subscription to first-time Asana customers.
This collaboration aimed to provide enhanced value to businesses using Asana, helping them streamline their work management processes while benefiting from cost savings through the rebate program.
Asana’s expanding relationship with Alphabet is noteworthy. Alphabet has included Asana's work management program in the majority of its workplaces, which significantly improves team communication and organization.
ASAN Benefits From AI to Streamline Project Management
Asana’s expanding portfolio has been noteworthy. In the third quarter of fiscal 2025, Asana launched Asana AI Studio, a no-code builder that enables teams to design AI-powered Smart workflows directly within its existing platform.
This tool helps automate project coordination, reduce busywork, and improve cross-functional collaboration by embedding AI agents that manage tasks across the entire project lifecycle.
Building on this success, Asana’s AI capabilities have helped Morningstar MORN streamline project management by standardizing work intake processes. Leveraging the power of Asana AI Studio, Morningstar enhances efficiency with Smart workflows, automating project evaluation and prioritization and driving further improvements in its operational effectiveness.