Asana, Inc. (NYSE:ASAN) Stock Has Consensus Target Price of $9.95 According to Brokerages

Key Points

• Analyst sentiment is mixed: Asana has a consensus “Hold” rating from 14 brokerages, with an average 12-month price target of $9.95.
• Latest results topped expectations: The company reported quarterly EPS of $0.10 versus $0.09 expected and revenue of $216.43 million versus $214.15 million expected; revenue rose 9.9% year over year, though Asana remained unprofitable.
• Insiders sold 551,360 shares worth about $5.24 million over the past 90 days; insiders collectively own 87.54% of the company.

Shares of Asana, Inc. (NYSE:ASAN - Get Free Report) have been assigned a consensus rating of "Hold" from the fourteen brokerages that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.95.

Several research analysts have recently issued reports on ASAN shares. Robert W. Baird upped their target price on shares of Asana from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, September 4th. 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. Royal Bank Of Canada boosted their price target on shares of Asana from $8.00 to $9.50 and gave the company a "sector perform" rating in a research report on Friday, September 4th. Piper Sandler boosted their price target on shares of Asana from $7.00 to $9.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. Finally, Citigroup restated a "market outperform" rating on shares of Asana in a research note on Monday, August 24th.

Asana Stock Performance

ASAN opened at $9.59 on Wednesday. Asana has a one year low of $5.38 and a one year high of $15.28. The company has a market cap of $2.20 billion, a P/E ratio of -14.53 and a beta of 0.99. The business's 50-day simple moving average is $9.95 and its 200-day simple moving average is $8.14.

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

Insider Transactions at Asana

In other news, CFO Aziz Megji sold 3,224 shares of the business's stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $9.26, for a total value of $29,854.24. Following the completion of the sale, the chief financial officer directly owned 726,721 shares of the company's stock, valued at approximately $6,729,436.46. The trade was a 0.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Katie Colendich sold 6,318 shares of the business's stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $8.65, for a total value of $54,650.70. Following the completion of the sale, the insider directly owned 155,371 shares of the company's stock, valued at $1,343,959.15. The trade was a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 551,360 shares of company stock worth $5,239,118. Corporate insiders own 87.54% of the company's stock.

Hedge Funds Weigh In On Asana

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its stake in shares of Asana by 92.6% in the 1st 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. Squarepoint Ops LLC boosted its holdings in shares of Asana by 108.3% in the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company's stock valued at $6,217,000 after acquiring an additional 461,858 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Asana during the first quarter worth about $1,016,000. Royal Bank of Canada raised its holdings in Asana by 2,925.2% during the first quarter. Royal Bank of Canada now owns 180,634 shares of the company's stock worth $1,157,000 after purchasing an additional 174,663 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Asana by 49.3% during the first quarter. Bank of New York Mellon Corp now owns 856,622 shares of the company's stock worth $5,482,000 after purchasing an additional 283,054 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Asana Company Profile

Asana, Inc. develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform provides tools for assigning work, setting deadlines, tracking progress and sharing updates across teams. Organizations can use Asana to manage projects and recurring processes, align work with broader goals, and connect workflows with other business applications. The company also offers features designed to help teams automate work and use artificial intelligence within their workflows.

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