15 Best Small Cap AI Stocks to Buy Right Now

6. Asana, Inc. (NYSE:ASAN)

Number of Hedge Fund Holders: 33

​Asana, Inc. (NYSE:ASAN) is a work management software company that offers a cloud-based platform designed to help teams plan, organize, and track projects and tasks. Its solution supports collaboration, workflow automation, goal tracking, and reporting across departments such as marketing, operations, product development, and IT. The platform integrates with numerous third-party tools and emphasizes scalability and real-time visibility. ASAN leverages AI to enhance productivity through features like smart task prioritization, automated workflows, and predictive project insights, aligning with the growing demand for AI-driven workplace efficiency tools. The company ranked eighth on our recent list of Top 9 AI Stocks to Watch Amid DeepSeek Frenzy.

Asana, Inc. (NYSE:ASAN) delivered solid Q4 results with total revenues up 10% YoY, exceeding guidance when adjusted for currency impact. The company achieved significant milestones including reaching positive free cash flow for the full fiscal year 2025 and improving non-GAAP operating margins by over 800 basis points year-over-year. Non-tech verticals showed strong performance, growing 15% YoY, with manufacturing, energy, consumer retail, and media being among the fastest-growing sectors. The company made substantial progress in enterprise customer acquisition, with $100,000+ customers growing 20% YoY and showing acceleration from the previous quarter. The company’s AI Studio has shown promising early results, with hundreds of the largest customers actively running smart workflows and thousands of customers enabling the platform.

Looking ahead, Asana, Inc. (NYSE:ASAN) expects to reach non-GAAP profitability in Q1 and projects fiscal year 2026 revenues of $782 million to $790 million, representing 8% to 9% growth. The company anticipates continued margin expansion with a non-GAAP operating margin of at least 5% for fiscal year 2026. International markets remain a key strength, with international revenue growing 14% YoY and showing acceleration from the previous quarter. The company is implementing strategic changes including reallocating resources to optimize capacity across segments, expanding channel presence, and building out a dedicated AI Studio team. Management expects ARR growth to outpace revenue growth in fiscal year 2026, setting up potential revenue growth acceleration in fiscal year 2027. With 33 hedge funds owning the stock, ASAN is one of the best small cap AI stocks to buy right now.