Asana (NYSE:ASAN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Asana from a "buy" to a strong-buy in a report released Saturday.
• Asana beat quarterly EPS expectations ($0.08 vs. $0.07) and reported revenue of $205.6M (up 9.2% YoY) but remains unprofitable with a negative ROE (77.05%) and net margin (-23.9%); shares trade near $5.46 with a market cap of about $1.3B.
• Analyst opinions are mixed—one Strong Buy, five Buy, seven Hold and four Sell—leaving a consensus rating of Hold and an average price target of $12.46, while several firms have recently lowered targets (e.g., UBS to $9, HSBC $8).

Asana (NYSE:ASAN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

A number of other analysts have also recently issued reports on ASAN. Weiss Ratings reissued a "sell (d-)" rating on shares of Asana in a report on Monday, December 29th. HSBC set a $8.00 price objective on Asana in a report on Friday, February 13th. BTIG Research started coverage on Asana in a research note on Tuesday, December 16th. They set a "neutral" rating on the stock. UBS Group reduced their price target on Asana from $16.00 to $9.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada upgraded Asana from an "underperform" rating to a "sector perform" rating and set a $7.00 price objective on the stock in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.46.

Asana Price Performance

Shares of NYSE ASAN opened at $5.46 on Friday. Asana has a one year low of $5.41 and a one year high of $19.00. The business's fifty day moving average price is $7.15 and its 200-day moving average price is $11.16. The stock has a market capitalization of $1.30 billion, a PE ratio of -6.82 and a beta of 1.08.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.01. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The firm had revenue of $205.57 million for the quarter, compared to analysts' expectations of $205.13 million. The business's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts expect that Asana will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Asana news, CAO Veronica Sosa sold 6,479 shares of the business's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $6.65, for a total transaction of $43,085.35. Following the completion of the sale, the chief accounting officer owned 73,722 shares of the company's stock, valued at approximately $490,251.30. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the business's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $6.62, for a total value of $123,906.54. Following the sale, the chief financial officer directly owned 915,281 shares of the company's stock, valued at $6,059,160.22. This represents a 2.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 70,226 shares of company stock valued at $472,065 over the last 90 days. Company insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of Asana by 18.3% in the fourth quarter. Invesco Ltd. now owns 106,753 shares of the company's stock worth $1,464,000 after buying an additional 16,500 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Asana during the fourth quarter valued at approximately $211,000. XTX Topco Ltd grew its stake in shares of Asana by 213.4% during the fourth quarter. XTX Topco Ltd now owns 235,451 shares of the company's stock valued at $3,228,000 after buying an additional 160,329 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its stake in shares of Asana by 663.4% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 109,178 shares of the company's stock valued at $1,497,000 after buying an additional 94,876 shares during the last quarter. Finally, Occudo Quantitative Strategies LP grew its stake in Asana by 76.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 156,282 shares of the company's stock worth $2,143,000 after purchasing an additional 67,560 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Company Profile

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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