Asana, Inc. (NYSE:ASAN) Receives Average Rating of "Hold" from Analysts

Key Points

• Asana has a consensus analyst rating of "Hold" from 12 firms, with 2 sells, 7 holds, and 3 buys. The average 1-year price target is about $9.27.
• The company recently reported quarterly results that beat expectations, posting $0.10 EPS versus the $0.08 estimate and revenue of $205.1 million, up 9.5% year over year.
• Insiders have been selling shares, including the CFO and CAO, while institutional investors such as Arrowstreet Capital and Goldman Sachs increased their holdings. Asana stock recently traded around $7.41, below the analysts' average target.

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have earned a consensus recommendation of "Hold" from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.2727.

ASAN has been the subject of a number of research reports. Wall Street Zen raised Asana from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Citigroup reaffirmed a "market outperform" rating on shares of Asana in a research note on Friday, May 29th. Jefferies Financial Group lowered their price objective on Asana from $15.00 to $8.00 and set a "hold" rating for the company in a research note on Monday, February 23rd. Robert W. Baird lowered their price objective on Asana from $16.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada raised their price objective on Asana from $7.00 to $8.00 and gave the company a "sector perform" rating in a research note on Friday, May 29th.

Insider Activity at Asana

In other news, CAO Veronica Sosa sold 6,479 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $6.65, for a total value of $43,085.35. Following the sale, the chief accounting officer directly owned 73,722 shares in the company, valued at approximately $490,251.30. This represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $6.62, for a total value of $123,906.54. Following the completion of the sale, the chief financial officer owned 915,281 shares in the company, valued at approximately $6,059,160.22. The trade was a 2.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 62,922 shares of company stock worth $417,870. Company insiders own 61.28% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ASAN. Arrowstreet Capital Limited Partnership increased its holdings in 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 during the period. Jupiter Asset Management Ltd. increased its holdings in Asana by 705.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company's stock worth $18,850,000 after purchasing an additional 1,204,232 shares during the period. Bank of America Corp DE increased its holdings in Asana by 92.6% during the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company's stock worth $14,318,000 after purchasing an additional 1,075,572 shares during the period. Goldman Sachs Group Inc. increased its holdings in 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 during the period. Finally, Marshall Wace LLP increased its holdings in shares of Asana by 35.1% in the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company's stock valued at $36,375,000 after acquiring an additional 689,546 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Trading Down 0.7%

NYSE:ASAN opened at $7.41 on Friday. Asana has a 12-month low of $5.38 and a 12-month high of $15.71. The stock has a 50-day moving average price of $6.65 and a 200 day moving average price of $9.05. The stock has a market capitalization of $1.71 billion, a P/E ratio of -10.73 and a beta of 1.02.

Asana (NYSE:ASAN - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $205.10 million during the quarter, compared to analysts' expectations of $203.58 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm's revenue was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, research analysts predict that Asana will post -0.4 earnings per share for the current fiscal 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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