Asana (NYSE:ASAN) Updates Q3 2027 Earnings Guidance

Key Points

• Asana raised its fiscal 2027 EPS guidance to $0.37, well above the $0.22 analyst consensus. Third-quarter EPS guidance of $0.08 also exceeded the $0.05 estimate, while revenue guidance of $217 million-$219 million was broadly in line with expectations.
• Asana’s latest quarterly results beat estimates, with EPS of $0.10 versus $0.09 expected and revenue of $216.43 million versus $214.15 million. Revenue increased 9.9% year over year, and management cited improving retention, stronger upmarket sales and growing AI-product demand.
• Shares rose 2.6% to $10.05, though analyst sentiment remains cautious with a consensus “Hold” rating and an average price target of $9.27. Company insiders, including the CFO and CEO, sold shares in June, while hedge funds increased their holdings during the fourth quarter.

Asana (NYSE:ASAN - Get Free Report) updated its third quarter 2027 earnings guidance on Thursday. The company provided earnings per share guidance of 0.080-0.080 for the period, compared to the consensus estimate of 0.050. The company issued revenue guidance of $217.0 million-$219.0 million, compared to the consensus revenue estimate of $218.2 million. Asana also updated its FY 2027 guidance to 0.370-0.370 EPS.

Asana Stock Up 2.6%

Shares of ASAN traded up $0.25 during mid-day trading on Thursday, reaching $10.05. 10,083,922 shares of the company's stock were exchanged, compared to its average volume of 5,872,639. Asana has a 52-week low of $5.38 and a 52-week high of $15.71. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -14.57 and a beta of 0.95. The company has a 50-day simple moving average of $8.32 and a two-hundred day simple moving average of $7.34.

Asana (NYSE:ASAN - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The company had revenue of $216.43 million during the quarter, compared to analysts' expectations of $214.15 million. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous 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, equities research analysts predict that Asana will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on ASAN. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Asana in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Asana from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. KeyCorp decreased their target price on shares of Asana from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. DA Davidson reaffirmed a "neutral" rating and issued a $8.00 target price on shares of Asana in a research note on Friday, May 29th. Finally, Citigroup reiterated a "market outperform" rating on shares of Asana in a report on Monday, August 24th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Asana currently has a consensus rating of "Hold" and an average target price of $9.27.

Insider Activity at Asana

In other Asana news, CFO Aziz Megji sold 31,696 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $211,095.36. Following the transaction, the chief financial officer owned 778,628 shares of the company's stock, valued at $5,185,662.48. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Rogers sold 26,975 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $179,653.50. Following the sale, the chief executive officer directly owned 1,905,780 shares of the company's stock, valued at $12,692,494.80. This represents a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 119,959 shares of company stock worth $809,325. 87.54% of the stock is currently owned by company insiders.

Key Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Quarterly results exceeded expectations: Asana reported earnings of $0.10 per share versus the $0.09 consensus estimate, while revenue of $216.43 million topped expectations of $214.15 million. Earnings also improved from $0.06 per share a year earlier. Asana Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Full-year guidance was raised above analyst expectations: Asana forecast fiscal 2027 earnings of $0.37 per share, compared with the $0.22 consensus estimate. Full-year revenue guidance of $858.5 million to $863.5 million was broadly in line with the $860.7 million consensus. Asana Q2 2027 Earnings and Guidance
• Neutral Sentiment: Management cited improving business momentum: Asana said retention is strengthening, its upmarket sales strategy is accelerating, and demand for its artificial-intelligence products is gaining traction across industries and geographies. Asana Announces Second Quarter Fiscal 2027 Results
• Negative Sentiment: Near-term outlook disappointed some investors: Third-quarter revenue guidance of $217 million to $219 million was essentially in line with the $218.2 million consensus, while adjusted EPS guidance of $0.08 exceeded the $0.05 estimate. Despite the EPS beat, reports characterized the outlook as soft, prompting selling in extended trading. Asana Stock Outlook Disappoints

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently modified their holdings of ASAN. Goldman Sachs Group Inc. boosted its stake in shares of Asana by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company's stock valued at $38,277,000 after purchasing an additional 977,107 shares during the period. Marshall Wace LLP increased its stake in Asana by 35.1% during the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company's stock worth $36,375,000 after buying an additional 689,546 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Asana by 12.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,214,591 shares of the company's stock worth $71,492,000 after buying an additional 565,681 shares during the period. Federated Hermes Inc. lifted its holdings in Asana by 94.7% in the 4th quarter. Federated Hermes Inc. now owns 804,743 shares of the company's stock worth $11,033,000 after buying an additional 391,412 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in Asana by 276.2% in the 4th quarter. Trexquant Investment LP now owns 489,091 shares of the company's stock valued at $6,705,000 after buying an additional 359,085 shares during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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