Asana, Inc. (NYSE:ASAN) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Asana has a consensus analyst rating of "Hold" from 12 brokerages, with 2 sell ratings, 7 hold ratings, and 3 buy ratings. The average 1-year price target is about $9.27.
• Recent analyst activity was mixed: Morgan Stanley cut its target to $7 and kept an underweight rating, while Citigroup, RBC, and DA Davidson reiterated more neutral or constructive views with targets around $8.
• The stock was trading at $7.11, near its 50-day average of $7.00 and well below its 52-week high of $15.71. Asana also reported quarterly EPS of $0.10, topping estimates, on revenue of $205.09 million, up 9.5% year over year.

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have received a consensus recommendation of "Hold" from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.2727.

Several analysts have recently issued reports on ASAN shares. Morgan Stanley decreased their price target on Asana from $8.00 to $7.00 and set an "underweight" rating for the company in a research note on Friday, May 29th. Citigroup reaffirmed a "market outperform" rating on shares of Asana in a research report on Friday, May 29th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Asana in a report on Friday, May 8th. Royal Bank Of Canada boosted their price objective on shares of Asana from $7.00 to $8.00 and gave the stock a "sector perform" rating in a research note on Friday, May 29th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $8.00 price objective on shares of Asana in a report on Friday, May 29th.

More Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Norges Bank Investment Management said it will take a 49% stake in the new U.S. retail partnership with Asana Partners and commit $500 million, giving the platform fresh capital to pursue acquisitions and expand its neighborhood retail portfolio. Reuters article
• Positive Sentiment: Multiple reports echoed the deal, describing a broader acquisition spree and strategic venture launch, which can be read as validation of Asana Partners’ ability to attract major institutional backing and scale its assets under management. Bisnow article
• Neutral Sentiment: Separately, Citigroup/JMP reiterated a “Market Outperform” rating with a $15 price target, reinforcing a constructive view on the stock, though this is not a new catalyst. Benzinga reference

Insiders Place Their Bets

In related news, CFO Aziz Megji sold 13,239 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $6.73, for a total transaction of $89,098.47. Following the completion of the sale, the chief financial officer owned 765,389 shares in the company, valued at $5,151,067.97. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total value of $75,777.48. Following the completion of the sale, the chief accounting officer directly owned 62,344 shares in the company, valued at $415,211.04. This trade represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 118,304 shares of company stock valued at $792,775. 61.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership raised its stake in Asana by 37.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company's stock valued at $45,979,000 after purchasing an additional 1,969,657 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in Asana by 705.6% in 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 last quarter. Bank of America Corp DE grew its position in Asana by 92.6% in 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 last quarter. Goldman Sachs Group Inc. increased its holdings 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 during the period. Finally, Marshall Wace LLP increased its holdings in shares of Asana by 35.1% during the 4th 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. Institutional investors and hedge funds own 26.21% of the company's stock.

Asana Stock Down 5.1%

ASAN stock opened at $7.11 on Thursday. The firm has a 50 day moving average of $7.00 and a two-hundred day moving average of $8.17. Asana has a 12 month low of $5.38 and a 12 month high of $15.71. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -10.30 and a beta of 0.97.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The business had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. Asana's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. 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 expect that Asana will post -0.4 EPS 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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