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The shares also soared to hit their 52-week high of $122.08 on September 21, 2021, mainly because Jefferies (NYSE:JEF) analyst Brent Thill raised his price target to $115 from $90.
However, ASAN faces stiff competition from players such as Atlassian Corporation Plc (NASDAQ:TEAM) and Smartsheet Inc . (NYSE:SMAR). Moreover, ASAN’s losses widened in the second quarter, and the company could continue to report losses in the coming quarters. So, ASAN’s near-term prospects look bleak.
