DA Davidson Issues Pessimistic Estimate for Asana Earnings

Asana, Inc. (NYSE:ASAN - Free Report) - Stock analysts at DA Davidson dropped their FY2026 earnings per share (EPS) estimates for Asana in a research report issued to clients and investors on Wednesday, June 4th. DA Davidson analyst L. Schreiner now forecasts that the company will earn ($0.68) per share for the year, down from their prior forecast of ($0.67). DA Davidson currently has a "Neutral" rating and a $12.00 price target on the stock. The consensus estimate for Asana's current full-year earnings is ($1.09) per share. DA Davidson also issued estimates for Asana's FY2027 earnings at ($0.61) EPS.

A number of other research analysts also recently commented on ASAN. JMP Securities reiterated a "market outperform" rating and set a $22.00 target price on shares of Asana in a research report on Wednesday, June 4th. Bank of America cut their target price on Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. Jefferies Financial Group boosted their target price on Asana from $15.00 to $17.00 and gave the company a "hold" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their target price on Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Wednesday, June 4th. Finally, Scotiabank boosted their target price on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Asana has an average rating of "Hold" and a consensus target price of $15.97.

Asana Stock Performance

Asana stock traded down $0.22 during midday trading on Friday, hitting $14.66. The stock had a trading volume of 4,198,312 shares, compared to its average volume of 2,920,800. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 52-week low of $11.05 and a 52-week high of $27.77. The firm's fifty day moving average is $16.31 and its two-hundred day moving average is $18.33. The company has a market capitalization of $3.42 billion, a PE ratio of -13.09 and a beta of 1.23.

Asana (NYSE:ASAN - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $187.63 million for the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ASAN. Vise Technologies Inc. raised its stake in shares of Asana by 6.5% during the 4th quarter. Vise Technologies Inc. now owns 15,809 shares of the company's stock worth $320,000 after buying an additional 959 shares during the period. SG Americas Securities LLC raised its stake in shares of Asana by 3.1% during the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock worth $473,000 after buying an additional 974 shares during the period. Quarry LP acquired a new position in shares of Asana during the 4th quarter worth approximately $29,000. Retirement Planning Co of New England Inc. raised its stake in shares of Asana by 12.7% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 16,512 shares of the company's stock worth $241,000 after buying an additional 1,855 shares during the period. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Asana during the 1st quarter worth approximately $28,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Asana

In other Asana news, CEO Dustin A. Moskovitz purchased 50,000 shares of the stock in a transaction on Tuesday, April 15th. The stock was acquired at an average price of $15.84 per share, with a total value of $792,000.00. Following the completion of the acquisition, the chief executive officer now owns 51,398,436 shares in the company, valued at $814,151,226.24. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justin Rosenstein sold 25,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the sale, the director now directly owns 922,309 shares of the company's stock, valued at approximately $11,888,563.01. This represents a 2.64% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 2,074,507 shares of company stock worth $30,025,743 over the last quarter. Insiders own 61.28% of the company's stock.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.