ASAN, FORG, & DATS stocks shine on higher demand hopes

Highlights

  • Asana Inc. was ranked among the top 10 companies in the Best Places to Work for Women list for the second consecutive year by Great Place to Work and Fortune.

  • ForgeRock, Inc. stock opened second-day trading with a nearly 6% gain. It closed at US$36.5 with a share volume of 10,478,530 in stock market debut on Sep 16.
  • DatChat, Inc. debuted in NASDAQ on Aug 13 and has since risen around 99%. It closed at US$7.68 on Sep 16.

Stocks of Asana, Inc. (NYSE: ASAN), ForgeRock, Inc. (NYSE: FORG), and DatChat, Inc. (NASDAQ: DATS) were up 1.18%, 5.75%, and 4.95%, respective, at 9:08 am ET in the premarket on Friday.

The ASAN stock was priced at US$119.25, FORG traded at US$38.60, and DATS traded at US$8.06 in the premarket.

Here we look at the recent developments of the three companies.

Asana, Inc.

The stock grabbed attention on Thursday after it was ranked 9th in the list of companies titled Best Places to Work for Women, published by Great Place to Work and Fortune.

It was among the top 10 companies in the list for the second year in a row. Around 96% of the employees agreed in a survey that it was the best place to work.

The stock closed at 117.86% (up 7.8%) on Sep 16, with a trading volume of 7,953,980.

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The San Francisco, California-based software company provides a work management platform. Its software supports in planning marketing and sales campaigns, products launch, etc.

Asana has a market capitalization of US$21.6 billion. The revenue and net loss for the July quarter of 2021 were US$89.48 million and US$(68.36) million, respectively. The stock has the highest price of US$119.99 and the lowest price of US$20.57 in the last 52 weeks.

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Three trending technology stocks: Asan Inc (ASAN), ForgeRock, Inc. (FORG), and DatChat Inc (DATS)

Source - pixabay

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ForgeRock, Inc.

The stock opened the second-day trading at a nearly 6% high from its IPO price of US$25 per share on Thursday. The stock closed at US$36.5, with a share volume of 10,478,530 on Sep 16.

The San Francisco-based ForgeRock is a next-generation cloud identity company. It earns revenue from licenses, SaaS, and maintenance support.

The company offered 11,000,000 shares of Class A common stock and an additional 1,650,000 shares for underwriters in case of overallotment in the IPO filed last month.

For the last six months ended June 30, 2021, its revenue was US$84.8 million, and net loss was US$(20.1) million. Its market cap is US$2.9 billion. The 52-week highest and lowest stock prices were US$37.74 and US$33.16, correspondingly.

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DatChat, Inc.

The stock saw high trading volume in the morning session on Friday. It closed at US$7.68, up 7%, with a trading volume of 3,596,665 on Sep 16, 2021.

DatChat is a communication software company based in New Brunswick, New Jersey, and provides cybersecurity, social media, blockchain, and mobile messaging platform. DatChat is a free messenger app.

The stock made its NASDAQ debut on Aug 13 and closed at US$3.42 on the first day of trading. It gained around 99% in one month.

Biotech company Alkido Pharma which owns 525,000 DatChat shares, lauded DTAT’s rapid price gain since August. The stock has been moving up for the last two days.

The 52-week highest and lowest stock prices were US$8.80 and US$3.31, respectively.

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Bottomline

Analysts say that technology companies have many opportunities to expand in the market, and therefore, many newcomers are entering the sector. However, investors should evaluate the stocks carefully before making an investment decision.

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