Software Stock Plummets Despite Quarterly Beat

Core Insights - Asana Inc's stock (NYSE:ASAN) dropped 17.3% to $15.71 despite better-than-expected first-quarter results, primarily due to slowing revenue growth and a warning about potential retention rate declines in the second quarter [1] Group 1: Stock Performance - Following the recent earnings report, ASAN's stock experienced price-target adjustments, with five analysts rating it as "buy" or better, ten as "hold," and three as "sell" [2] - The 12-month consensus price target for ASAN is $16.69, representing a 5.8% premium to its current price [2] - Prior to the recent decline, ASAN's stock had been recovering from a bear gap of 24.2% on March 11, which had brought shares down to $11.58 [3] - Year-to-date, ASAN's equity is down 16.4% [3] Group 2: Options Activity - ASAN has seen 13 times its typical overall options volume, with calls and puts trading at an even pace [5] - The most popular options include the weekly 6/6 15-strike put and the 6/6 16-strike call, with new positions opening at the latter [5]