Asana (NYSE:ASAN) Upgraded to "Buy" at Wall Street Zen

Key Points

• Asana has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating growing confidence among analysts in the company's prospects.
• Despite the upgrade, several other analysts have issued varying ratings, with HSBC lowering its price target for Asana from $13.00 to $10.00, while FBN Securities rated it a "strong-buy."
• Asana's recent quarterly earnings report showed a revenue increase of 9.9% year-over-year, but it missed earnings expectations, reporting a loss of ($0.20) per share.

Asana (NYSE:ASAN - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

ASAN has been the topic of a number of other research reports. KeyCorp reissued a "sector weight" rating on shares of Asana in a report on Wednesday, June 4th. Scotiabank boosted their target price on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating and set a $19.00 target price on shares of Asana in a research report on Thursday, September 4th. Robert W. Baird boosted their target price on Asana from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Finally, UBS Group boosted their target price on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $16.10.

Asana Stock Performance

Shares of NYSE:ASAN traded up $0.53 during trading on Friday, reaching $13.81. The company had a trading volume of 4,111,953 shares, compared to its average volume of 4,225,438. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -15.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41. The stock's fifty day moving average price is $14.23 and its 200 day moving average price is $15.17. Asana has a fifty-two week low of $11.08 and a fifty-two week high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last released its earnings results 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). The company had revenue of $196.94 million during 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 for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. As a group, equities research analysts predict that Asana will post -1.09 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was bought 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 in the company, valued at $702,237,973.78. The trade was a 0.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justin Rosenstein sold 966,576 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 4,797,091 shares of the company's stock, valued at approximately $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 three months, insiders bought 5,375,000 shares of company stock valued at $75,920,894 and sold 3,033,130 shares valued at $45,552,218. 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. Vanguard Group Inc. increased its stake in 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 purchasing an additional 475,100 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in 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 purchasing an additional 2,126,683 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 purchasing an additional 263,601 shares during the last quarter. Voloridge Investment Management LLC increased its stake in 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 purchasing an additional 438,057 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in 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 purchasing an additional 856,282 shares during the last quarter. 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.