Asana's (ASAN) "Market Outperform" Rating Reiterated at Citizens Jmp

Key Points

• Citizens JMP reiterated its “market outperform” rating on Asana and kept a $15 price target, implying nearly 96% upside from the prior close.
• Asana’s shares jumped 14.9% to $7.66 after the company reported better-than-expected quarterly results, including $0.10 EPS on $205.1 million in revenue, with revenue up 9.5% year over year.
• The company also raised guidance and completed its StackAI acquisition, but analysts remain mixed overall, with the stock still carrying an average “Hold” rating and some concerns about ongoing losses and insider selling.

Asana (NYSE:ASAN - Get Free Report)'s stock had its "market outperform" rating reissued by analysts at Citizens Jmp in a research note issued to investors on Friday,Benzinga reports. They currently have a $15.00 price target on the stock. Citizens Jmp's target price indicates a potential upside of 95.95% from the company's previous close.

A number of other research firms have also recently weighed in on ASAN. KeyCorp lowered their price target on shares of Asana from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Friday. Wall Street Zen cut shares of Asana from a "strong-buy" rating to a "buy" rating in a report on Sunday, April 19th. DA Davidson set a $8.00 price target on shares of Asana in a report on Friday. Morgan Stanley decreased their price objective on shares of Asana from $8.00 to $7.00 and set an "underweight" rating for the company in a research report on Friday. Finally, Robert W. Baird decreased their price objective on shares of Asana from $16.00 to $9.00 and set a "neutral" rating for the company in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.18.

Asana Trading Up 14.9%

Shares of NYSE:ASAN traded up $1.00 during trading on Friday, reaching $7.66. The stock had a trading volume of 9,340,542 shares, compared to its average volume of 6,046,343. Asana has a one year low of $5.38 and a one year high of $19.00. The company has a market capitalization of $1.82 billion, a P/E ratio of -9.57 and a beta of 0.95. The firm's 50-day simple moving average is $6.31 and its 200 day simple moving average is $9.39.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The business had revenue of $205.10 million for the quarter, compared to analysts' expectations of $203.58 million. During the same period last year, the business earned $0.05 EPS. The company's revenue was up 9.5% compared to the same quarter last year. 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 forecast that Asana will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asana news, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.65, for a total transaction of $227,104.15. Following the completion of the transaction, the chief financial officer directly owned 933,998 shares of the company's stock, valued at approximately $6,211,086.70. This trade represents a 3.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katie Marie Colendich sold 7,304 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the transaction, the insider directly owned 108,214 shares of the company's stock, valued at $802,947.88. This represents a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 70,226 shares of company stock valued at $472,065. 61.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Asana

Institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Asana during the 3rd quarter worth approximately $27,000. Jones Financial Companies Lllp grew its stake in shares of Asana by 137.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company's stock worth $34,000 after purchasing an additional 1,427 shares during the period. Performa Ltd US LLC grew its stake in shares of Asana by 335.1% during the 1st 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 period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Asana during the 4th quarter worth approximately $50,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Asana during the 1st quarter worth approximately $53,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Asana

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana beat first-quarter fiscal 2027 earnings and revenue estimates, reporting $0.10 EPS on $205.1 million in revenue, with revenue up 9.5% year over year. Article Title
• Positive Sentiment: Management also raised guidance, with Q2 and full-year EPS outlooks above Wall Street expectations, signaling improving profitability and encouraging investors. Article Title
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, which could strengthen its product offering and support longer-term growth in enterprise automation. Article Title
• Positive Sentiment: Investors also viewed improving operating cash flow and margin progress as signs that Asana is making progress on financial discipline, even though the business remains unprofitable. Article Title
• Neutral Sentiment: An investor note said the stock remains challenged by sub-100% net retention and a still-elevated share price decline over the longer term, keeping some analysts cautious despite the strong quarter. Article Title
• Negative Sentiment: Some coverage highlighted that the company is still posting losses and that insider selling has been ongoing, which may temper enthusiasm for the rally. Article Title

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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