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

Key Points

• Analysts rate Asana “Hold” overall: Of 14 analysts, eight recommend holding, four recommend buying and two recommend selling. The average 12-month price target is $9.27.
• Asana’s latest quarterly results exceeded expectations, with EPS of $0.10 versus the $0.08 estimate and revenue of $205.09 million, up 9.5% year over year. Analysts expect a full-year loss of approximately $0.40 per share.
• Shares opened at $10.18, up 7.8%, while insiders have sold 118,304 shares worth about $792,775 over the past 90 days; institutional and hedge-fund investors own 26.21% of the stock.

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have received 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 given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.2727.

Several analysts have issued reports on ASAN shares. KeyCorp lowered their target price on Asana from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Friday, May 29th. Royal Bank Of Canada increased their price target on Asana from $7.00 to $8.00 and gave the stock a "sector perform" rating in a research note on Friday, May 29th. Morgan Stanley decreased their price objective on Asana from $8.00 to $7.00 and set an "underweight" rating for the company in a report on Friday, May 29th. Citizens Jmp reaffirmed a "market outperform" rating and set a $15.00 price objective on shares of Asana in a report on Tuesday, July 7th. Finally, DA Davidson reiterated a "neutral" rating and set a $8.00 target price on shares of Asana in a research report on Friday, May 29th.

Insider Buying and Selling at Asana

In other Asana news, insider Katie Marie Colendich sold 5,242 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.68, for a total transaction of $35,016.56. Following the sale, the insider owned 176,598 shares of the company's stock, valued at $1,179,674.64. The trade was a 2.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Veronica Sosa sold 11,378 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $75,777.48. Following the sale, the chief accounting officer owned 62,344 shares in the company, valued at approximately $415,211.04. This represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 118,304 shares of company stock valued at $792,775. 87.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Asana

Hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LP bought a new stake in shares of Asana during the 2nd quarter valued at $451,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Asana in the 2nd quarter worth about $415,000. California State Teachers Retirement System boosted its stake in Asana by 874.2% in the 2nd quarter. California State Teachers Retirement System now owns 764,533 shares of the company's stock worth $5,352,000 after purchasing an additional 686,051 shares during the period. HB Wealth Management LLC purchased a new position in Asana during the 2nd quarter valued at about $71,000. Finally, Handelsbanken Fonder AB grew its holdings in Asana by 41.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 32,900 shares of the company's stock valued at $230,000 after buying an additional 9,700 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Stock Up 7.8%

Shares of ASAN stock opened at $10.18 on Friday. The company has a 50 day moving average of $8.06 and a 200-day moving average of $7.28. Asana has a 12-month low of $5.38 and a 12-month high of $15.71. The firm has a market cap of $2.35 billion, a P/E ratio of -14.76 and a beta of 0.93.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $205.09 million for the quarter, compared to the consensus estimate of $203.58 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. Asana's revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts expect that Asana will post -0.4 EPS for the current year.

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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