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

Key Points

• Analysts maintain a “Hold” consensus on Asana, with seven hold, three buy, one strong-buy and two sell ratings among 13 analysts. The average 12-month price target is $9.27, compared with the stock’s recent price of $8.31.
• Asana’s latest quarterly results exceeded expectations, with adjusted EPS of $0.10 versus the $0.08 consensus and revenue of $205.09 million, up 9.5% year over year. Analysts expect the company to remain unprofitable for the full year, with projected EPS of negative $0.40.
• Insiders sold 118,304 shares worth approximately $792,775 over the past three months, while institutional investors own 26.21% of the company and several major funds increased their positions.

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have received a consensus rating of "Hold" from the thirteen analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $9.2727.

Several equities analysts have commented on ASAN shares. Zacks Research upgraded shares of Asana from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. KeyCorp cut their target price on shares of Asana from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Friday, May 29th. Citizens Jmp reiterated a "market outperform" rating and issued a $15.00 price target on shares of Asana in a research note on Tuesday, July 7th. DA Davidson reissued a "neutral" rating and issued a $8.00 price target on shares of Asana in a report on Friday, May 29th. Finally, Wall Street Zen cut shares of Asana from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 12th.

Insider Transactions at Asana

In other news, CFO Aziz Megji sold 31,696 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $211,095.36. Following the transaction, the chief financial officer owned 778,628 shares in the company, valued at approximately $5,185,662.48. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Veronica Sosa sold 11,378 shares of Asana stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $75,777.48. Following the sale, the chief accounting officer directly owned 62,344 shares of the company's stock, valued at approximately $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 118,304 shares of company stock worth $792,775 over the last three months. Company insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Asana by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company's stock worth $180,606,000 after acquiring an additional 48,847 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Asana by 37.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company's stock worth $45,979,000 after purchasing an additional 1,969,657 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Asana by 53.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company's stock worth $38,277,000 after purchasing an additional 977,107 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Asana by 35.1% during the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company's stock worth $36,375,000 after purchasing an additional 689,546 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Asana by 92.6% in the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company's stock valued at $14,318,000 after buying an additional 1,075,572 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Stock Down 0.1%

ASAN opened at $8.31 on Monday. Asana has a 12-month low of $5.38 and a 12-month high of $15.71. The business has a 50 day moving average of $7.39 and a 200-day moving average of $7.45. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -12.05 and a beta of 0.97.

Asana (NYSE:ASAN - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $205.09 million for the quarter, compared to analyst estimates of $203.58 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm's revenue was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, analysts expect that Asana will post -0.4 earnings per share for the current year.

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.

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