JMP Securities Reaffirms Market Outperform Rating for Asana (NYSE:ASAN)

Asana (NYSE:ASAN - Get Free Report)'s stock had its "market outperform" rating reiterated by research analysts at JMP Securities in a research note issued on Wednesday,Benzinga reports. They currently have a $22.00 price target on the stock. JMP Securities' target price indicates a potential upside of 49.51% from the stock's current price.

ASAN has been the subject of several other reports. Robert W. Baird dropped their price objective on Asana from $23.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Piper Sandler upped their price target on Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research note on Wednesday. UBS Group lowered their price target on Asana from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, March 11th. Jefferies Financial Group lowered their price target on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research note on Tuesday, March 11th. Finally, Scotiabank lowered their price target on Asana from $18.00 to $12.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 11th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Asana presently has an average rating of "Hold" and a consensus price target of $15.97.

Asana Price Performance

Shares of NYSE:ASAN traded down $0.40 on Wednesday, hitting $14.72. The stock had a trading volume of 10,896,863 shares, compared to its average volume of 2,892,673. The firm's 50 day moving average price is $16.32 and its 200-day moving average price is $18.26. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana has a twelve month low of $11.05 and a twelve month high of $27.77. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -13.14 and a beta of 1.23.

Asana (NYSE:ASAN - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $187.63 million during the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative return on equity of 86.84% and a negative net margin of 36.17%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) EPS. On average, equities research analysts predict that Asana will post -1.09 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Justin Rosenstein sold 25,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 922,309 shares of the company's stock, valued at approximately $11,888,563.01. This represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dustin A. Moskovitz acquired 50,000 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was bought at an average cost of $15.84 per share, with a total value of $792,000.00. Following the acquisition, the chief executive officer now owns 51,398,436 shares in the company, valued at $814,151,226.24. The trade was a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,074,507 shares of company stock valued at $30,025,743 in the last quarter. 61.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Asana

Several large investors have recently made changes to their positions in the stock. Vise Technologies Inc. lifted its holdings in Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock valued at $320,000 after purchasing an additional 959 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Asana by 3.1% during the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock valued at $473,000 after purchasing an additional 974 shares during the last quarter. Quarry LP acquired a new stake in Asana during the 4th quarter valued at $29,000. Retirement Planning Co of New England Inc. lifted its holdings in Asana by 12.7% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 16,512 shares of the company's stock valued at $241,000 after purchasing an additional 1,855 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Asana during the 1st quarter valued at $28,000. Institutional investors and hedge funds own 26.21% of the company's stock.

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.