Morgan Stanley Boosts 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 target price upped by Morgan Stanley from $13.00 to $14.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other analysts have also recently issued reports about the company. Wall Street Zen cut Asana from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group increased their price target on Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $19.00 price target on shares of Asana in a report on Thursday. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Finally, Bank of America lowered their target price on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.10.

Asana Price Performance

NYSE ASAN traded down $1.20 during trading hours on Thursday, reaching $13.44. The company's stock had a trading volume of 9,397,682 shares, compared to its average volume of 4,148,384. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -15.10 and a beta of 1.14. The company's 50-day moving average is $14.23 and its two-hundred day moving average is $15.33. Asana has a 1-year low of $11.05 and a 1-year high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.25). The business had revenue of $196.94 million for the quarter, compared to analyst estimates of $193.01 million. Asana had a negative return on equity of 83.00% and a negative net margin of 27.50%.The company's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. On average, equities analysts predict that Asana will post -1.09 EPS for the current year.

Insider Activity at Asana

In other Asana 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 value of $14,537,303.04. Following the transaction, the director directly owned 4,797,091 shares in the company, valued at approximately $72,148,248.64. This trade represents a 16.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was bought at an average price of $13.58 per share, for a total transaction of $3,055,500.00. Following the completion of the purchase, the chief executive officer directly owned 51,711,191 shares in the company, valued at approximately $702,237,973.78. The trade was a 0.44% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 5,375,000 shares of company stock worth $75,920,894 and sold 3,033,130 shares worth $45,552,218. Company insiders own 61.28% of the company's stock.

Hedge Funds Weigh In On Asana

Several institutional investors have recently added to or reduced their stakes in the business. Marex Group plc acquired a new stake in Asana in the 2nd quarter worth about $4,772,000. State of Wyoming purchased a new position in shares of Asana during the 2nd quarter worth about $284,000. Caxton Associates LLP purchased a new position in shares of Asana during the 2nd quarter worth about $218,000. Headlands Technologies LLC acquired a new stake in shares of Asana in the second quarter worth approximately $90,000. Finally, Tower Research Capital LLC TRC grew its holdings in Asana by 226.4% in the second quarter. Tower Research Capital LLC TRC now owns 11,732 shares of the company's stock valued at $158,000 after purchasing an additional 8,138 shares during the period. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.