Asana, Inc. (NYSE:ASAN) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts have a consensus rating of "Hold" on Asana from 17 firms (4 sell / 8 hold / 4 buy / 1 strong buy), with an average 12‑month price target of $12.32 versus the current share price near $6.39.
• Asana slightly beat last quarter's estimates (EPS $0.08 vs $0.07; revenue $205.6M) but remains unprofitable with negative ROE and a net margin of -23.9%, and analysts forecast a -$0.53 EPS for the year.
• Insiders have been selling recently (70,226 shares worth ~$472k in the last quarter, including CFO and CAO trades), although insiders still hold a substantial 61.28% stake in the company.

Asana, Inc. (NYSE:ASAN - Get Free Report) has earned a consensus recommendation of "Hold" from the seventeen research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $12.3214.

Several equities analysts have weighed in on ASAN shares. Royal Bank Of Canada raised Asana from an "underperform" rating to a "sector perform" rating and set a $7.00 price objective for the company in a report on Wednesday, April 1st. Morgan Stanley decreased their price target on Asana from $14.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 3rd. HSBC set a $8.00 price target on Asana in a research note on Friday, February 13th. Wall Street Zen lowered Asana from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 19th. Finally, Robert W. Baird decreased their price target on Asana from $16.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd.

Insider Activity

In other news, CFO Sonalee Elizabeth Parekh sold 34,151 shares of Asana stock in a transaction on Friday, March 20th. The stock was sold at an average price of $6.65, for a total value of $227,104.15. Following the transaction, the chief financial officer owned 933,998 shares in the company, valued at approximately $6,211,086.70. This trade represents a 3.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Veronica Sosa sold 6,479 shares of Asana stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $43,085.35. Following the completion of the transaction, the chief accounting officer owned 73,722 shares in the company, valued at approximately $490,251.30. The trade was a 8.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 70,226 shares of company stock worth $472,065. Insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

Hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Asana during the 3rd quarter valued at $27,000. Farther Finance Advisors LLC boosted its holdings in shares of Asana by 119.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company's stock valued at $34,000 after acquiring an additional 1,391 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Asana by 137.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company's stock valued at $34,000 after acquiring an additional 1,427 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Asana during the 4th quarter valued at $50,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Asana by 64.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock valued at $59,000 after acquiring an additional 1,706 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Price Performance

Shares of NYSE ASAN opened at $6.39 on Friday. The stock has a market capitalization of $1.52 billion, a PE ratio of -7.98 and a beta of 1.08. The business has a fifty day moving average price of $6.68 and a two-hundred day moving average price of $10.62. Asana has a fifty-two week low of $5.38 and a fifty-two week high of $19.00.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $205.57 million during the quarter, compared to analysts' expectations of $205.13 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.Asana's quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts expect that Asana will post -0.53 EPS for the current year.

About Asana

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.

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