Asana (NYSE:ASAN) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler raised Asana’s price target from $7 to $9 but maintained a “neutral” rating; the new target still implied 10.45% downside from the prior close.
• Asana reported quarterly earnings of $0.10 per share, beating the $0.09 consensus, while revenue increased 9.9% year over year to $216.43 million. Management also raised fiscal 2027 adjusted EPS guidance to $0.37 and plans to launch its “Agentic Work Management” offering in mid-September.
• Despite the earnings beat, analysts’ consensus rating remains “Hold,” reflecting concerns about modest near-term revenue growth and continued profitability challenges, including a negative net margin and return on equity.

Asana (NYSE:ASAN - Get Free Report) had its target price raised by equities research analysts at Piper Sandler from $7.00 to $9.00 in a report released on Friday, Marketbeat reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price objective would suggest a potential downside of 10.45% from the company's previous close.

Several other research analysts also recently weighed in on the company. Wall Street Zen downgraded Asana from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 12th. Citigroup restated a "market outperform" rating on shares of Asana in a research note on Monday, August 24th. Royal Bank Of Canada upped their price objective on shares of Asana from $7.00 to $8.00 and gave the company a "sector perform" rating in a report on Friday, May 29th. UBS Group reiterated a "neutral" rating and set a $8.00 target price on shares of Asana in a research report on Friday, May 29th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $15.00 target price on shares of Asana in a research note on Tuesday, July 7th. Four equities research 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $9.45.

Asana Trading Up 2.6%

NYSE:ASAN opened at $10.05 on Friday. Asana has a 12 month low of $5.38 and a 12 month high of $15.71. The firm's 50 day moving average is $8.40 and its 200 day moving average is $7.36. The stock has a market capitalization of $2.32 billion, a PE ratio of -14.57 and a beta of 0.95.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. During the same period in the prior year, the company earned $0.06 earnings per share. Asana's revenue was up 9.9% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. Research analysts predict that Asana will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Daniel Rogers sold 26,975 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $179,653.50. Following the sale, the chief executive officer owned 1,905,780 shares of the company's stock, valued at approximately $12,692,494.80. This represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aziz Megji sold 31,696 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $211,095.36. Following the completion of the transaction, the chief financial officer owned 778,628 shares of the company's stock, valued at approximately $5,185,662.48. This represents a 3.91% 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. Insiders have sold a total of 119,959 shares of company stock valued at $809,325 in the last ninety days. 87.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors and hedge funds have recently modified their holdings of ASAN. Vident Advisory LLC boosted its position in shares of Asana by 4.3% in the third quarter. Vident Advisory LLC now owns 22,527 shares of the company's stock valued at $301,000 after acquiring an additional 930 shares during the period. ProShare Advisors LLC increased its holdings in Asana by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 16,412 shares of the company's stock worth $225,000 after acquiring an additional 1,188 shares during the period. Daiwa Securities Group Inc. lifted its stake in Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock worth $59,000 after purchasing an additional 1,706 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Asana by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company's stock worth $707,000 after purchasing an additional 2,328 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Asana by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,327 shares of the company's stock worth $706,000 after purchasing an additional 2,373 shares in the last quarter. 26.21% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Asana

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported fiscal Q2 2027 adjusted earnings of $0.10 per share, above the $0.09 consensus estimate, while revenue rose 9.9% year over year to $216.43 million, exceeding expectations of $214.15 million. Asana Announces Second Quarter Fiscal 2027 Results
• Positive Sentiment: Management raised fiscal 2027 adjusted EPS guidance to $0.37, well above the $0.22 analyst consensus, and forecast revenue of $858.5 million to $863.5 million, broadly in line with the $860.7 million consensus. Asana forecasts FY2027 revenue and Agentic Work Management rollout
• Positive Sentiment: Asana plans to roll out its “Agentic Work Management” offering in mid-September and cited improving retention, stronger upmarket sales momentum and growing adoption of its AI products as potential growth drivers.
• Neutral Sentiment: Third-quarter EPS guidance of $0.08 is above the $0.05 consensus, but revenue guidance of $217 million to $219 million is centered near expectations, offering limited evidence of accelerating top-line growth.
• Negative Sentiment: The stock initially declined after the report despite the earnings beat. Investors appeared focused on Asana’s modest near-term revenue outlook and ongoing profitability concerns, including a negative net margin and negative return on equity. Asana stock reaction to Q3 outlook

Asana Company Profile

Asana, Inc NYSE: ASAN is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana's platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company's cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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