Asana (NYSE:ASAN) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Asana from “Buy” to “Hold,” aligning with the broader analyst consensus. Four analysts rate the stock Buy, eight Hold, and two Sell, with an average price target of $9.95.
• Asana opened at $9.04, near its 50-day moving average of $8.98, after reporting quarterly EPS of $0.10 and revenue of $216.43 million, both slightly above analyst expectations. Revenue increased 9.9% year over year, though the company remained unprofitable.
• Company insiders sold 521,135 shares worth approximately $4.87 million over the past 90 days, including substantial sales by the CEO and CFO. Institutional investors own 26.21% of Asana, while insiders hold 87.54%.

Asana (NYSE:ASAN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the company. Citizens Jmp restated a "market outperform" rating and set a $15.00 target price on shares of Asana in a research report on Friday, September 4th. Citigroup reiterated a "market outperform" rating on shares of Asana in a research report on Monday, August 24th. UBS Group raised their price target on shares of Asana from $8.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. DA Davidson boosted their price objective on Asana from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Finally, BTIG Research restated a "neutral" rating on shares of Asana in a report on Friday, September 4th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Asana presently has a consensus rating of "Hold" and an average price target of $9.95.

Asana Stock Down 1.3%

ASAN opened at $9.04 on Friday. The firm's 50-day moving average price is $8.98 and its 200-day moving average price is $7.56. Asana has a 52-week low of $5.38 and a 52-week high of $15.48. The company has a market cap of $2.07 billion, a P/E ratio of -13.70 and a beta of 0.95.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $216.43 million for the quarter, compared to the consensus estimate of $214.15 million. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%.The company's revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, research analysts anticipate that Asana will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, CFO Aziz Megji sold 3,224 shares of the firm's stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $9.26, for a total transaction of $29,854.24. Following the completion of the sale, the chief financial officer directly owned 726,721 shares in the company, valued at $6,729,436.46. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Rogers sold 150,175 shares of the firm's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $9.13, for a total value of $1,371,097.75. Following the completion of the sale, the chief executive officer directly owned 1,474,719 shares in the company, valued at approximately $13,464,184.47. This represents a 9.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 521,135 shares of company stock worth $4,871,882. Insiders own 87.54% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC bought a new position in Asana during the 2nd quarter worth approximately $88,000. Integrated Wealth Concepts LLC bought a new position in Asana in the second quarter worth about $164,000. Squarepoint Ops LLC lifted its stake in shares of Asana by 108.3% in the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company's stock valued at $6,217,000 after purchasing an additional 461,858 shares during the period. Allworth Financial LP grew its position in shares of Asana by 193.4% in the 2nd quarter. Allworth Financial LP now owns 13,195 shares of the company's stock worth $92,000 after buying an additional 8,698 shares during the period. Finally, Corient Private Wealth LP bought a new position in shares of Asana during the second quarter valued at approximately $451,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

About Asana

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana's products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.

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