Citizens Jmp Reaffirms Market Outperform Rating for Asana (NYSE:ASAN)

Asana (NYSE:ASAN - Get Free Report)'s stock had its "market outperform" rating restated by investment analysts at Citizens Jmp in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $15.00 target price on the stock. Citizens Jmp's price objective would indicate a potential upside of 107.56% from the company's current price.

Other equities analysts have also issued reports about the stock. Morgan Stanley cut their price target on shares of Asana from $8.00 to $7.00 and set an "underweight" rating on the stock in a report on Friday, May 29th. Wall Street Zen upgraded Asana from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 13th. KeyCorp lowered their price objective on Asana from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. UBS Group restated a "neutral" rating and set a $8.00 target price on shares of Asana in a research note on Friday, May 29th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $8.00 target price on shares of Asana in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $9.27.

Asana Stock Performance

ASAN stock opened at $7.23 on Tuesday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -10.47 and a beta of 0.97. The firm has a 50-day simple moving average of $6.96 and a two-hundred day simple moving average of $8.27. Asana has a one year low of $5.38 and a one year high of $15.71.

Asana (NYSE:ASAN - Get Free Report) last issued 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. The firm had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. 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 analysts predict that Asana will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In related news, insider Katie Marie Colendich sold 8,337 shares of the firm's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $6.74, for a total transaction of $56,191.38. Following the sale, the insider owned 181,840 shares in the company, valued at approximately $1,225,601.60. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $75,777.48. Following the completion of the transaction, the chief accounting officer owned 62,344 shares of the company's stock, valued at approximately $415,211.04. This trade represents a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 118,304 shares of company stock valued at $792,775. Company 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 business. FNY Investment Advisers LLC acquired a new stake in Asana in the third quarter valued at approximately $27,000. Optiver Holding B.V. increased its position in shares of Asana by 2,008.8% in the first quarter. Optiver Holding B.V. now owns 5,251 shares of the company's stock valued at $34,000 after buying an additional 5,002 shares in the last quarter. Performa Ltd US LLC raised 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 buying an additional 4,775 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Asana during the 4th quarter worth approximately $50,000. Finally, Summit Securities Group LLC purchased a new position in shares of Asana during the 1st quarter valued at approximately $53,000. Institutional investors and hedge funds own 26.21% of the company's stock.

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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