Asana (NYSE:ASAN) Price Target Raised to $14.00

Asana (NYSE:ASAN - Free Report) had its price target increased by JPMorgan Chase & Co. from $13.00 to $14.00 in a research report sent to investors on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other analysts have also commented on the company. Bank of America lowered their price objective on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday. Jefferies Financial Group lowered their price objective on Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. DA Davidson decreased their target price on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Tuesday, March 11th. UBS Group boosted their target price on Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Robert W. Baird boosted their target price on Asana from $13.00 to $15.00 and gave the stock a "neutral" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, Asana currently has an average rating of "Hold" and a consensus target price of $15.97.

Asana Price Performance

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

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

Insider Activity

In other Asana news, COO Anne Raimondi sold 18,775 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the sale, the chief operating officer now owns 716,580 shares in the company, valued at approximately $10,053,617.40. The trade was a 2.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justin Rosenstein sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were 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 owns 922,309 shares in the company, valued at $11,888,563.01. The trade was a 2.64% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 2,074,507 shares of company stock worth $30,025,743 in the last 90 days. Corporate insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

Institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in Asana in the 1st quarter valued at approximately $28,000. Quarry LP bought a new stake in Asana in the 4th quarter valued at $29,000. AlphaQuest LLC grew 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 buying an additional 2,203 shares in the last quarter. Bogart Wealth LLC acquired a new position in Asana in the 4th quarter valued at $61,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Asana during the 4th quarter worth $82,000. Institutional investors 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.