Why did Asana stock surge today? Tech rebound lifts shares
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Asana (NYSE:ASAN) shares surged more than 12% on Tuesday as the broader technology sector turned around and rose, aided by a decline in interest rates.
Other software stocks rose sharply as well, including 2% gains for Salesforce (CRM), Adobe (ADBE) and Intuit (INTU).

The broader Nasdaq rose more than 1.5% on Tuesday, aided by large cap stocks such as Tesla (TSLA), Google (GOOG) (GOOGL) and Amazon (AMZN).
Last month, several analysts lowered their price target on Asana (ASAN) after its losses continued to widen and it gave guidance that fell short of estimates.
Asana (ASAN) lost an adjusted $0.30 per share on $120.65M in revenue, compared to an estimated loss of 24 cents per share on $115.11M.
For the second-quarter, Asana (ASAN) said it expects adjusted losses to be between $0.38 and $0.39 per share, compared to an adjusted loss of $0.37 per share.