Asana, Inc. (NYSE:ASAN) - Piper Sandler dropped their FY2022 earnings per share (EPS) estimates for Asana in a note issued to investors on Thursday, November 18th. Piper Sandler analyst B. Bracelin now forecasts that the company will post earnings per share of ($1.44) for the year, down from their previous forecast of ($1.42). Piper Sandler has a "Overweight" rating and a $140.00 price objective on the stock. Piper Sandler also issued estimates for Asana's Q4 2022 earnings at ($0.39) EPS, Q1 2023 earnings at ($0.40) EPS, Q2 2023 earnings at ($0.41) EPS, Q3 2023 earnings at ($0.39) EPS, Q4 2023 earnings at ($0.37) EPS and FY2023 earnings at ($1.56) EPS. Asana (NYSE:ASAN) last issued its earnings results on Tuesday, August 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.03. Asana had a negative return on equity of 288.11% and a negative net margin of 89.91%. The business had revenue of $89.50 million during the quarter, compared to the consensus estimate of $82.26 million. Asana's revenue for the quarter was up 72.1% compared to the same quarter last year.
Other equities research analysts have also issued reports about the stock. KeyCorp increased their target price on shares of Asana from $85.00 to $143.00 and gave the stock an "overweight" rating in a report on Thursday, October 21st. Oppenheimer increased their target price on shares of Asana from $77.00 to $85.00 and gave the stock an "outperform" rating in a report on Thursday, September 2nd. Morgan Stanley raised their price objective on shares of Asana from $37.00 to $151.00 and gave the company an "equal weight" rating in a report on Friday, October 22nd. Jefferies Financial Group downgraded shares of Asana from a "buy" rating to a "hold" rating and increased their target price for the company from $115.00 to $135.00 in a research report on Thursday, November 4th. Finally, JMP Securities increased their target price on shares of Asana from $82.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, September 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $105.50.
Shares of ASAN stock opened at $137.19 on Monday. The firm's 50 day moving average price is $121.58 and its 200-day moving average price is $82.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.10 and a current ratio of 2.10. Asana has a one year low of $21.46 and a one year high of $145.79. The firm has a market cap of $25.23 billion, a P/E ratio of -75.80 and a beta of 0.55.
Several hedge funds have recently bought and sold shares of the stock. Yale University acquired a new stake in Asana in the second quarter worth $5,321,000. Virtu Financial LLC increased its position in Asana by 180.7% in the second quarter. Virtu Financial LLC now owns 20,513 shares of the company's stock worth $1,272,000 after buying an additional 13,205 shares during the period. Commonwealth Equity Services LLC increased its position in Asana by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 8,523 shares of the company's stock worth $528,000 after buying an additional 139 shares during the period. PDT Partners LLC acquired a new stake in Asana in the second quarter worth $7,513,000. Finally, Advisory Services Network LLC acquired a new position in shares of Asana during the second quarter valued at $183,000. 30.19% of the stock is currently owned by institutional investors and hedge funds.
In other Asana news, insider Eleanor B. Lacey sold 17,480 shares of the firm's stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $76.71, for a total value of $1,340,890.80. Following the transaction, the insider now directly owns 146,839 shares of the company's stock, valued at $11,264,019.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dustin A. Moskovitz bought 13,915 shares of the company's stock in a transaction dated Monday, September 13th. The shares were acquired at an average cost of $100.00 per share, for a total transaction of $1,391,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,013,915 shares of company stock worth $99,636,500 and sold 92,440 shares worth $10,477,306. Company insiders own 54.43% of the company's stock.
Asana Company Profile
Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.
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