Equities analysts forecast that Asana, Inc. (NYSE:ASAN) will report sales of $70.17 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Asana's earnings. The lowest sales estimate is $70.00 million and the highest is $70.36 million. The company is scheduled to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Asana will report full-year sales of $311.64 million for the current year, with estimates ranging from $311.30 million to $312.09 million. For the next year, analysts forecast that the company will report sales of $396.81 million, with estimates ranging from $380.19 million to $407.60 million. Zacks' sales averages are an average based on a survey of analysts that follow Asana.
Asana (NYSE:ASAN) last announced its quarterly earnings results on Tuesday, March 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of ($0.26) by $0.04. The business had revenue of $68.40 million during the quarter, compared to the consensus estimate of $62.72 million. Asana's revenue was up 57.2% on a year-over-year basis.
Several equities research analysts have recently weighed in on the stock. Piper Sandler upped their target price on shares of Asana from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, March 17th. Zacks Investment Research lowered shares of Asana from a "hold" rating to a "sell" rating in a report on Tuesday, March 30th. Credit Suisse Group upped their target price on shares of Asana from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, March 17th. Morgan Stanley increased their price objective on shares of Asana from $31.00 to $34.00 and gave the stock an "equal weight" rating in a report on Wednesday, March 17th. Finally, Robert W. Baird initiated coverage on shares of Asana in a report on Wednesday, March 10th. They set an "outperform" rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Asana presently has a consensus rating of "Hold" and an average price target of $34.09.
ASAN opened at $31.27 on Wednesday. The firm's 50-day simple moving average is $31.48 and its 200-day simple moving average is $31.39. Asana has a twelve month low of $20.57 and a twelve month high of $43.72.
In related news, CFO Tim M. Wan sold 40,000 shares of the stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $32.85, for a total value of $1,314,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Chris Farinacci sold 26,072 shares of the stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $29.50, for a total transaction of $769,124.00. Following the completion of the sale, the chief operating officer now owns 315,072 shares in the company, valued at $9,294,624. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,644 shares of company stock worth $3,621,663.
Several large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in Asana during the 4th quarter worth approximately $27,000. Sterling Investment Advisors Ltd. bought a new stake in Asana during the 4th quarter worth approximately $30,000. tru Independence LLC bought a new stake in Asana during the 4th quarter worth approximately $29,550,000. Cypress Point Wealth Management LLC bought a new stake in Asana during the 4th quarter worth approximately $30,000. Finally, Valeo Financial Advisors LLC increased its stake in Asana by 150.4% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,217 shares of the company's stock worth $35,000 after purchasing an additional 731 shares in the last quarter. Institutional investors and hedge funds own 16.28% of the company's stock.
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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