Citigroup Issues Pessimistic Forecast for Asana (NYSE:ASAN) Stock Price

Key Points

• Citigroup lowered its price target on Asana from $13 to $11, though it kept a buy rating. The new target still implies about 43% upside from the prior close.
• Analysts are mixed on the stock overall: the consensus rating is Hold with an average target price of about $10.96. Several firms recently cut targets, while Citizens JMP remains more bullish with a $15 target.
• Asana’s latest quarterly results beat expectations, with EPS of $0.10 and revenue of about $205.1 million, up 9.5% year over year. Management also raised guidance, even as the company continues to post negative margins and profit expectations remain weak for the year.

Asana (NYSE:ASAN - Get Free Report) had its price target decreased by equities research analysts at Citigroup from $13.00 to $11.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 43.40% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the stock. Piper Sandler reaffirmed a "neutral" rating and set a $7.00 price target (down from $9.00) on shares of Asana in a research note on Tuesday, April 14th. Citizens Jmp reiterated a "market outperform" rating and set a $15.00 target price on shares of Asana in a report on Friday. UBS Group restated a "neutral" rating and set a $8.00 price objective on shares of Asana in a report on Friday. HSBC set a $8.00 price objective on Asana in a report on Friday, February 13th. Finally, Morgan Stanley cut their price target on Asana from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $10.96.

Asana Price Performance

Asana stock traded up $1.01 during midday trading on Friday, reaching $7.67. The company's stock had a trading volume of 12,239,235 shares, compared to its average volume of 6,074,370. Asana has a 52-week low of $5.38 and a 52-week high of $19.00. The stock has a market capitalization of $1.83 billion, a P/E ratio of -9.50 and a beta of 0.95. The stock'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 issued its quarterly earnings results 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. The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $203.58 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, equities research analysts expect that Asana will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Veronica Sosa sold 6,479 shares of the company's stock in a transaction that occurred on 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 transaction, the chief accounting officer directly owned 73,722 shares of the company's stock, valued at approximately $490,251.30. This represents a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the company'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 value of $227,104.15. Following the transaction, the chief financial officer directly owned 933,998 shares of the company's stock, valued at $6,211,086.70. This trade represents a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 70,226 shares of company stock valued at $472,065. 61.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Asana by 92.6% during the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company's stock valued at $14,318,000 after purchasing an additional 1,075,572 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Asana by 2,925.2% during the first quarter. Royal Bank of Canada now owns 180,634 shares of the company's stock valued at $1,157,000 after purchasing an additional 174,663 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Asana by 206.4% during the first quarter. Quantinno Capital Management LP now owns 158,588 shares of the company's stock valued at $1,015,000 after purchasing an additional 106,836 shares during the last quarter. SummitTX Capital L.P. bought a new position in shares of Asana during the first quarter valued at approximately $229,000. Finally, Entropy Technologies LP acquired a new position in shares of Asana during the first quarter worth approximately $578,000. 26.21% of the stock is owned by institutional investors.

More Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported first-quarter fiscal 2027 earnings and revenue that beat consensus estimates, with EPS of $0.10 on revenue of about $205.1 million, while revenue grew 9.5% year over year. The company also pointed to improving operating cash flow. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: Management raised its second-quarter and full-year fiscal 2027 outlook above Wall Street expectations, which suggests improving visibility into growth and profitability. Earnings Report and Conference Call
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, which supports its push to become an AI-native workplace platform and could strengthen long-term product differentiation. Asana Acquires StackAI
• Neutral Sentiment: Citizens JMP reaffirmed its “market outperform” rating and set a $15 price target, reinforcing a bullish view on the stock. Analyst Rating Update
• Neutral Sentiment: KeyCorp also lowered its price target to $13 from $15 but kept an “overweight” rating, indicating some confidence despite a reduced valuation view. Analyst Rating Update
• Negative Sentiment: Morgan Stanley cut its price target to $7 and maintained an “underweight” rating, reflecting ongoing concerns about upside and execution. Analyst Rating Update

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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