Asana (NYSE:ASAN) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Asana (NYSE:ASAN - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03, RTT News reports. The business had revenue of $187.63 million for the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) EPS. Asana updated its FY 2026 guidance to 0.220-0.220 EPS and its Q2 2026 guidance to 0.040-0.050 EPS.

Asana Stock Down 1.0%

ASAN traded down $0.15 during trading on Thursday, hitting $14.96. 6,716,564 shares of the company's stock traded hands, compared to its average volume of 2,874,707. The company's 50 day simple moving average is $16.32 and its two-hundred day simple moving average is $18.26. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 12-month low of $11.05 and a 12-month high of $27.77. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -13.36 and a beta of 1.23.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday. JMP Securities restated a "market outperform" rating and set a $22.00 price target on shares of Asana in a research note on Wednesday. KeyCorp reaffirmed a "sector weight" rating on shares of Asana in a report on Wednesday. Piper Sandler raised their price objective on shares of Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Morgan Stanley reduced their price target on shares of Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $15.97.

Insider Buying and Selling at Asana

In other news, CEO Dustin A. Moskovitz purchased 225,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $12.91 per share, for a total transaction of $2,904,750.00. Following the purchase, the chief executive officer now directly owns 48,123,436 shares in the company, valued at approximately $621,273,558.76. This represents a 0.47% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Justin Rosenstein sold 25,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the director now owns 922,309 shares in the company, valued at approximately $11,888,563.01. This trade represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have acquired 2,074,507 shares of company stock worth $30,025,743. Insiders own 61.28% of the company's stock.

Hedge Funds Weigh In On Asana

Institutional investors and hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Asana by 14.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company's stock worth $3,770,000 after buying an additional 32,708 shares during the last quarter. Empowered Funds LLC raised its holdings in Asana by 40.9% during the first quarter. Empowered Funds LLC now owns 25,441 shares of the company's stock valued at $371,000 after acquiring an additional 7,381 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Asana by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company's stock worth $707,000 after purchasing an additional 2,328 shares during the last quarter. 26.21% of the stock is currently owned by hedge funds and other 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.