New York, Jan 13, 2026, 15:35 EST — Regular session
- Asana shares dropped roughly 7% in afternoon trading, lagging behind the wider market.
- In December, U.S. consumer inflation remained steady at 2.7% year-on-year, while “core” inflation stood at 2.6%.
- Attention turns to the Fed’s January 27-28 meeting, with Asana’s fiscal year closing just days later on January 31.
Shares of Asana, Inc. dropped 7.1%, closing in on a session low of $11.87 before settling at $12.04 on Tuesday afternoon.
The decline followed a pullback in U.S. indexes after fresh inflation figures, as investors digested early bank earnings reports. The Dow slipped about 0.8%, while the S&P 500 and Nasdaq each dropped roughly 0.3%. “Markets seem to underappreciate the potential hazards,” noted David Wagner, head of equity and portfolio manager at Aptus Capital Advisors. 1
The Labor Department reported U.S. consumer prices climbed 0.3% in December, marking a 2.7% increase compared to last year. Core inflation, excluding food and energy, inched up 0.2% for the month and stood 2.6% higher than a year ago. 2
Asana’s drop echoed struggles across cloud software names: Atlassian slipped around 5.2%, Monday.com dipped about 3.9%, and ServiceNow fell roughly 3.3%.
Company news was scarce, but Asana rolled out a product update late Monday. The highlight: “Scheduled Triggers,” a new time-based automation for its Rules tool. It also includes an AI-powered option to draft project status updates on a regular schedule. 3
On Sunday, research firm Wall Street Zen upgraded Asana from “hold” to “buy,” MarketBeat reported.
Asana reported Q3 revenue of $201.0 million on Dec. 2, marking a 9% increase. Its dollar-based net retention rate came in at 96%, indicating a slight drop in spending from existing customers compared to the previous year. The company projected Q4 revenue between $204 million and $206 million, raising its full-year revenue guidance to $789 million–$791 million. CFO Sonalee Parekh described Q3 as “another strong quarter of execution.” 4
But the situation is double-edged. Asana is working to firm up retention and secure larger new contracts amid competition from bigger software players; any dip in IT budgets or a spike in bond yields could quickly hit high-multiple stocks hard, even if the company itself doesn’t release any news.
Asana’s stock has fallen roughly 31% in the last year, making it vulnerable to shifts in investor interest for smaller growth software companies.
Investors are eyeing the Federal Reserve’s policy meeting on Jan. 27-28 and Asana’s fiscal year-end on Jan. 31. That’s when focus usually shifts to how management discusses demand, retention, and forecasts for the year ahead. 5
