Asana (NYSE:ASAN) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Asana (NYSE:ASAN - Free Report) had its target price upped by Jefferies Financial Group from $15.00 to $17.00 in a report released on Wednesday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other equities analysts have also recently weighed in on the company. DA Davidson cut their price target on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Scotiabank lifted their target price on Asana from $12.00 to $16.50 and gave the stock a "sector perform" rating in a report on Wednesday. JMP Securities reiterated a "market outperform" rating and issued a $22.00 target price on shares of Asana in a report on Wednesday. Royal Bank of Canada reiterated an "underperform" rating and issued a $10.00 target price on shares of Asana in a report on Wednesday. Finally, Piper Sandler lifted their target price on Asana from $17.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Asana has an average rating of "Hold" and a consensus price target of $15.97.

Asana Stock Performance

Shares of NYSE ASAN traded down $0.40 during trading on Wednesday, hitting $14.72. The company had a trading volume of 10,896,863 shares, compared to its average volume of 2,892,673. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The stock has a 50 day simple moving average of $16.32 and a 200 day simple moving average of $18.26. The firm has a market capitalization of $3.43 billion, a P/E ratio of -13.14 and a beta of 1.23.

Asana (NYSE:ASAN - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $187.63 million during the quarter, compared to analysts' expectations of $185.40 million. Asana had a negative return on equity of 86.84% and a negative net margin of 36.17%. The firm's revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. As a group, analysts anticipate that Asana will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Asana

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the acquisition, the chief executive officer now owns 48,573,436 shares in the company, valued at $680,999,572.72. This trade represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Justin Rosenstein sold 25,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the director now directly owns 922,309 shares of the company's stock, valued at approximately $11,888,563.01. This trade represents a 2.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,074,507 shares of company stock worth $30,025,743. 61.28% of the stock is currently owned by insiders.

Institutional Trading of Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in ASAN. Banque Cantonale Vaudoise acquired a new position in Asana in the 1st quarter valued at about $28,000. Quarry LP purchased a new stake in Asana in the 4th quarter valued at approximately $29,000. AlphaQuest LLC boosted its holdings in Asana by 825.1% in the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock valued at $36,000 after purchasing an additional 2,203 shares in the last quarter. Bogart Wealth LLC purchased a new stake in Asana in the 4th quarter valued at approximately $61,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Asana in the 4th quarter valued at approximately $82,000. Institutional investors and hedge funds own 26.21% 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.