Asana (NYSE:ASAN) Trading 10.1% Higher - Should You Buy?

Key Points

• Asana shares rose 10.1% to $7.55 in Monday trading, although volume was 87% below the average session level.
• Analysts have a consensus “Hold” rating with an average price target of $9.27; ratings include three Buys, seven Holds and two Sells.
• Asana exceeded quarterly expectations with $0.10 EPS and $205.09 million in revenue, up 9.5% year over year, but remained unprofitable with a negative 20.21% net margin. Insiders sold 118,304 shares worth about $792,775 over the past three months.

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) traded up 10.1% during trading on Monday . The stock traded as high as $7.56 and last traded at $7.55. 799,193 shares were traded during mid-day trading, a decline of 87% from the average session volume of 5,998,384 shares. The stock had previously closed at $6.86.

Analyst Ratings Changes

Several research analysts have issued reports on ASAN shares. Citigroup restated a "market outperform" rating on shares of Asana in a report on Friday, May 29th. UBS Group reiterated a "neutral" rating and set a $8.00 price objective on shares of Asana in a research report on Friday, May 29th. Citizens Jmp restated a "market outperform" rating and issued a $15.00 target price on shares of Asana in a report on Tuesday, July 7th. KeyCorp cut their price target on shares of Asana from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. Finally, Piper Sandler reiterated a "neutral" rating and set a $7.00 price target (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $9.27.

Asana Price Performance

The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -11.21 and a beta of 0.97. The business's fifty day simple moving average is $7.23 and its 200 day simple moving average is $7.63.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The company had revenue of $205.09 million for the quarter, compared to analysts' expectations of $203.58 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business's revenue was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Equities research analysts expect that Asana, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other news, CEO Daniel Mark Rogers sold 13,790 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $6.89, for a total value of $95,013.10. Following the transaction, the chief executive officer owned 1,891,990 shares in the company, valued at $13,035,811.10. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Veronica Sosa sold 11,378 shares of Asana stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total value of $75,777.48. Following the transaction, the chief accounting officer directly owned 62,344 shares in the company, valued at approximately $415,211.04. The trade was a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 118,304 shares of company stock worth $792,775. Insiders own 61.28% of the company's stock.

Hedge Funds Weigh In On Asana

Large investors have recently bought and sold shares of the stock. Optiver Holding B.V. grew its stake in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company's stock worth $34,000 after acquiring an additional 5,002 shares in the last quarter. Performa Ltd US LLC boosted its holdings in Asana by 335.1% during the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company's stock worth $40,000 after purchasing an additional 4,775 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Asana during the fourth quarter worth about $50,000. Summit Securities Group LLC bought a new stake in Asana in the 1st quarter worth about $53,000. Finally, Daiwa Securities Group Inc. grew its position in Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock worth $59,000 after purchasing an additional 1,706 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors.

About Asana

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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