Asana (NYSE:ASAN) Lowered to Buy Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Asana from a "strong-buy" to a "buy", and multiple firms have cut price targets — Asana's consensus rating is Hold with an average price target of $12.32.
• Shares trade around $5.82 (near a 12‑month low of $5.38) for a market cap of $1.39B; the company modestly beat EPS and grew revenue 9.2% year‑over‑year but remains unprofitable with negative net margin and return on equity.

Asana (NYSE:ASAN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Sunday.

Several other equities analysts have also commented on ASAN. UBS Group cut their price target on Asana from $16.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd. Jefferies Financial Group cut their price target 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 price target on Asana from $14.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 3rd. Robert W. Baird cut their price target on Asana from $16.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd. Finally, Citigroup dropped their price objective on Asana from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, Asana currently has a consensus rating of "Hold" and an average price target of $12.32.

Asana Trading Down 0.5%

Shares of Asana stock opened at $5.82 on Friday. The firm has a market cap of $1.39 billion, a P/E ratio of -7.28 and a beta of 1.08. Asana has a 12 month low of $5.38 and a 12 month high of $19.00. The stock's fifty day moving average price is $6.83 and its 200-day moving average price is $10.86.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $205.57 million for the quarter, compared to analyst estimates of $205.13 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business's quarterly revenue was up 9.2% on a year-over-year basis. Analysts forecast that Asana will post -1.09 earnings per share for the current year.

Insider Activity at Asana

In related news, insider Katie Marie Colendich sold 7,304 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the sale, the insider owned 108,214 shares of the company's stock, valued at $802,947.88. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the firm's stock in a transaction dated 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 directly owned 915,281 shares of the company's stock, valued at approximately $6,059,160.22. This represents a 2.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 70,226 shares of company stock valued at $472,065 over the last quarter. 61.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asana

Institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Asana in the third quarter worth about $27,000. Jones Financial Companies Lllp boosted its holdings in Asana by 137.7% in the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company's stock worth $34,000 after acquiring an additional 1,427 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Asana by 119.7% in the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company's stock worth $34,000 after acquiring an additional 1,391 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Asana in the fourth quarter worth about $50,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock worth $59,000 after acquiring an additional 1,706 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company's stock.

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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