Asana (NYSE:ASAN) Announces Quarterly Earnings Results

Key Points

• Asana reported a loss of ($0.20) EPS for the quarter, missing analysts' estimates by $0.25, marking a continued struggle with profitability.
• The company's stock price closed at $14.27 following the earnings report, with analysts maintaining a consensus rating of "Hold" and an average price target of $15.97.
• Insider trading activity included CEO Dustin Moskovitz acquiring 225,000 shares, increasing his ownership, while Director Justin Rosenstein sold nearly 1 million shares, indicating mixed signals regarding future performance.

Asana (NYSE:ASAN - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.25), Zacks reports. The firm had revenue of $196.94 million for the quarter, compared to analyst estimates of $193.01 million. Asana had a negative net margin of 27.50% and a negative return on equity of 83.88%. The company's revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Asana updated its Q3 2026 guidance to 0.060-0.070 EPS and its FY 2026 guidance to 0.230-0.250 EPS.

Asana Stock Up 2.1%

ASAN traded up $0.28 on Monday, reaching $13.74. The company's stock had a trading volume of 3,660,742 shares, compared to its average volume of 4,409,374. The stock has a 50 day moving average of $14.24 and a two-hundred day moving average of $15.23. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of -15.44 and a beta of 1.14. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $27.77.

Insider Buying and Selling

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was purchased at an average cost of $13.58 per share, with a total value of $3,055,500.00. Following the completion of the acquisition, the chief executive officer directly owned 51,711,191 shares of the company's stock, valued at $702,237,973.78. This trade represents a 0.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justin Rosenstein sold 966,576 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $15.04, for a total value of $14,537,303.04. Following the completion of the transaction, the director directly owned 4,797,091 shares of the company's stock, valued at $72,148,248.64. This trade represents a 16.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 5,375,000 shares of company stock valued at $75,920,894 and sold 3,033,130 shares valued at $45,552,218. Corporate insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

Large investors have recently modified their holdings of the stock. State of Wyoming purchased a new position in Asana in the second quarter worth $284,000. Caxton Associates LLP purchased a new position in Asana in the second quarter worth $218,000. Headlands Technologies LLC purchased a new position in Asana in the second quarter worth $90,000. Tower Research Capital LLC TRC raised its position in Asana by 226.4% in the second quarter. Tower Research Capital LLC TRC now owns 11,732 shares of the company's stock worth $158,000 after acquiring an additional 8,138 shares in the last quarter. Finally, Tidal Investments LLC purchased a new position in Asana in the second quarter worth $423,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ASAN shares. JMP Securities reiterated a "market outperform" rating and set a $22.00 price target on shares of Asana in a research note on Wednesday, June 4th. Bank of America cut their price target on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. UBS Group boosted their price target on shares of Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Jefferies Financial Group boosted their price target on shares of Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a research note on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $16.10.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.