Asana stocks tumble
Plus, DocuSign stocks fall after disappointed guidance & FMC Stocks looks ready to rally
Hello there,
Despite posting a great fourth-quarter earnings, the workplace management software shares are trading sharply low and are down by 18%.
Why it matters: Earnings news got overshadowed by the company’s plan to step up its rate of investment and also the forecast for a higher-than-expected loss for 2023. While Asana (ASAN)’s pace of growth remains impressive, it's also slowing down. (Barrons)
DocuSign stocks fall after disappointed guidance
The digital signature software company stocks are down nearly 16%.
Why it matters: The pandemic gains for the San Francisco software company seems to be disappearing as the stock keeps moving lower. For the second quarter in a row, DocuSign (DOCU) provided guidance that fell short of Wall Street’s estimates. The company is now off 75% since peaking at $300 last summer. (Barrons)
FMC Stocks looks ready to rally
The pesticide maker shares have gained 9.2% this year, as a result of the rising crop prices following the Russia-Ukraine crisis.
Why it matters: Surging food prices give a very good reason to take a look at FMC (FMC). Unlike its competitors, FMC sells chemicals, not seeds. The company is expected to generate sales of about $5.4 billion in 2022, and earnings per share could grow by 10%. “The early look at 2022 suggests that FMC is back on its longer-term sales/profit objectives,” says analyst Mitsch, who has a Hold rating on the stock. (Barrons)
That’s it from us today,
See you next week.