Asana (NYSE:ASAN) Given New $13.00 Price Target at KeyCorp

Key Points

• KeyCorp lowered its price target on Asana from $15 to $13 while keeping an overweight rating, implying about 71% upside from the current share price.
• Asana reported a stronger-than-expected quarter, with $0.10 EPS and $205.1 million in revenue, while revenue grew 9.5% year over year. The company also raised its FY2027 and Q2 guidance above Wall Street expectations.
• The stock rose 13.9% to $7.59 on Friday, but analysts remain mixed overall, with a consensus Hold rating and several recent target cuts from other firms.

Asana (NYSE:ASAN - Get Free Report) had its target price dropped by research analysts at KeyCorp from $15.00 to $13.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price target points to a potential upside of 71.30% from the stock's current price.

Several other equities analysts have also weighed in on the company. Royal Bank Of Canada reissued a "sector perform" rating on shares of Asana in a research note on Friday. Jefferies Financial Group cut their target price on Asana from $15.00 to $8.00 and set a "hold" rating on the stock in a research note on Monday, February 23rd. Morgan Stanley cut their target price on Asana from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday. 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 cut their target price on Asana from $16.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, Asana currently has a consensus rating of "Hold" and a consensus target price of $12.11.

Asana Trading Up 13.9%

Asana stock traded up $0.93 during mid-day trading on Friday, hitting $7.59. The stock had a trading volume of 7,621,500 shares, compared to its average volume of 6,025,660. The stock has a 50-day simple moving average of $6.31 and a two-hundred day simple moving average of $9.39. The stock has a market capitalization of $1.81 billion, a PE ratio of -9.43 and a beta of 0.95. Asana has a 12 month low of $5.38 and a 12 month high of $19.00.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $205.10 million for the quarter, compared to analysts' expectations of $203.58 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Sell-side analysts expect that Asana will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Katie Marie Colendich sold 7,304 shares of Asana stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total value of $54,195.68. Following the sale, the insider owned 108,214 shares of the company's stock, valued at approximately $802,947.88. This trade represents a 6.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the business's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $227,104.15. Following the completion of the sale, the chief financial officer owned 933,998 shares in the company, valued at $6,211,086.70. The trade was a 3.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,226 shares of company stock worth $472,065 in the last 90 days. Corporate insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

Several institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake 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 valued at $14,318,000 after acquiring an additional 1,075,572 shares in the last quarter. Royal Bank of Canada lifted its stake in Asana by 2,925.2% in the 1st quarter. Royal Bank of Canada now owns 180,634 shares of the company's stock valued at $1,157,000 after acquiring an additional 174,663 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Asana by 206.4% in the 1st quarter. Quantinno Capital Management LP now owns 158,588 shares of the company's stock valued at $1,015,000 after acquiring an additional 106,836 shares in the last quarter. SummitTX Capital L.P. bought a new stake in Asana in the 1st quarter valued at approximately $229,000. Finally, Entropy Technologies LP bought a new stake in Asana in the 1st quarter valued at approximately $578,000. Institutional investors own 26.21% of the company's stock.

Key Headlines Impacting Asana

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana beat first-quarter fiscal 2027 earnings and revenue estimates, reporting $0.10 EPS on $205.1 million in revenue, with revenue up 9.5% year over year. Article Title
• Positive Sentiment: Management also raised guidance, with Q2 and full-year EPS outlooks above Wall Street expectations, signaling improving profitability and encouraging investors. Article Title
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, which could strengthen its product offering and support longer-term growth in enterprise automation. Article Title
• Positive Sentiment: Investors also viewed improving operating cash flow and margin progress as signs that Asana is making progress on financial discipline, even though the business remains unprofitable. Article Title
• Neutral Sentiment: An investor note said the stock remains challenged by sub-100% net retention and a still-elevated share price decline over the longer term, keeping some analysts cautious despite the strong quarter. Article Title
• Negative Sentiment: Some coverage highlighted that the company is still posting losses and that insider selling has been ongoing, which may temper enthusiasm for the rally. Article Title

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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