Morgan Stanley Raises Asana (NYSE:ASAN) Price Target to $14.00

Key Points

• Asana's price target has been raised by Morgan Stanley from $13.00 to $14.00, despite maintaining an "underweight" rating, indicating a potential downside of 3.45% from its last close.
• Multiple analysts have varying price targets for Asana, with Jefferies raising their target to $17.00 while HSBC lowered theirs to $10.00, reflecting mixed outlooks on the stock.
• The company reported a quarterly loss of ($0.20) EPS, falling short of estimates, but experienced a revenue increase of 9.9% compared to the same quarter last year.

Asana (NYSE:ASAN - Free Report) had its price target lifted by Morgan Stanley from $13.00 to $14.00 in a report released on Thursday, Marketbeat reports. Morgan Stanley currently has an underweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Robert W. Baird raised their target price on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 target price on shares of Asana in a research note on Wednesday, June 4th. JPMorgan Chase & Co. raised their target price on Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Wednesday, June 4th. Bank of America decreased their target price on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Finally, UBS Group raised their target price on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $16.10.

Asana Trading Up 0.1%

Shares of ASAN traded up $0.01 during mid-day trading on Thursday, reaching $13.78. 2,411,957 shares of the company were exchanged, compared to its average volume of 3,561,594. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $3.24 billion, a PE ratio of -15.41 and a beta of 1.14. The business has a 50 day simple moving average of $14.24 and a two-hundred day simple moving average of $15.23.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The company had revenue of $196.94 million for the quarter, compared to the consensus estimate of $193.01 million. During the same quarter last year, the business earned ($0.05) earnings per share. Asana's revenue was up 9.9% compared to the same quarter last year. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. On average, analysts predict that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Activity at Asana

In related news, Director Justin Rosenstein sold 966,576 shares of Asana stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the transaction, the director owned 4,797,091 shares of the company's stock, valued at $72,148,248.64. The trade was a 16.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were acquired at an average price of $13.58 per share, for a total transaction 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 disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 5,375,000 shares of company stock worth $75,920,894 and have sold 3,033,130 shares worth $45,552,218. 61.28% of the stock is owned by insiders.

Institutional Trading of Asana

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after buying an additional 475,100 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Asana by 104.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company's stock valued at $56,173,000 after buying an additional 2,126,683 shares during the period. Geode Capital Management LLC raised its stake in shares of Asana by 13.9% in the second quarter. Geode Capital Management LLC now owns 2,153,811 shares of the company's stock valued at $29,080,000 after buying an additional 263,601 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after buying an additional 438,057 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Asana by 73.5% in the second quarter. Acadian Asset Management LLC now owns 2,020,660 shares of the company's stock valued at $27,256,000 after buying an additional 856,282 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Asana Company Profile

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.