Asana, Inc. (NYSE:ASAN) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Asana, with eight holds, four buys and two sells among 14 analysts. The average 12-month price target is approximately $9.95.
• Asana’s latest quarterly results modestly exceeded expectations, with EPS of $0.10 versus the $0.09 consensus and revenue of $216.43 million versus estimates of $214.15 million; revenue rose 9.9% year over year.
• The stock opened at $9.59, while insiders sold 42,263 shares worth about $291,870 during the last quarter. Institutional investors own 26.21% of the company, compared with 87.54% insider ownership.

Asana, Inc. (NYSE:ASAN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the fourteen analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.9545.

A number of equities analysts recently commented on the stock. DA Davidson lifted their price target on shares of Asana from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Barclays downgraded shares of Asana to an "outperform" rating in a research note on Monday, August 24th. BTIG Research restated a "neutral" rating on shares of Asana in a research report on Friday, September 4th. Citizens Jmp reaffirmed a "market outperform" rating and set a $15.00 target price on shares of Asana in a research note on Friday, September 4th. Finally, Morgan Stanley reduced their price target on Asana from $8.00 to $7.00 and set an "underweight" rating on the stock in a report on Friday, May 29th.

Asana Trading Up 0.8%

ASAN opened at $9.59 on Tuesday. Asana has a 12 month low of $5.38 and a 12 month high of $15.48. The stock has a 50-day moving average of $8.85 and a 200 day moving average of $7.52. The firm has a market cap of $2.20 billion, a P/E ratio of -14.53 and a beta of 0.95.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The company had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. During the same period in the previous year, the firm earned $0.06 earnings per share. Asana's quarterly revenue was up 9.9% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, research analysts forecast that Asana will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, insider Katie Colendich sold 8,337 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $6.74, for a total value of $56,191.38. Following the sale, the insider owned 181,840 shares in the company, valued at $1,225,601.60. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aziz Megji sold 13,239 shares of Asana stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $6.73, for a total value of $89,098.47. Following the sale, the chief financial officer owned 765,389 shares of the company's stock, valued at approximately $5,151,067.97. This trade represents a 1.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,263 shares of company stock valued at $291,870 in the last quarter. 87.54% of the stock is owned by insiders.

Hedge Funds Weigh In On Asana

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Asana by 37.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company's stock valued at $45,979,000 after acquiring an additional 1,969,657 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Asana by 705.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company's stock worth $18,850,000 after purchasing an additional 1,204,232 shares in the last quarter. Bank of America Corp DE grew its stake in Asana by 92.6% in the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company's stock worth $14,318,000 after purchasing an additional 1,075,572 shares in the last quarter. First Trust Advisors LP increased its holdings in Asana by 12.9% during the 1st quarter. First Trust Advisors LP now owns 1,988,739 shares of the company's stock worth $12,728,000 after purchasing an additional 227,204 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in Asana by 108.3% during the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company's stock worth $6,217,000 after purchasing an additional 461,858 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana's products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.

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