Asana's (ASAN) Overweight Rating Reaffirmed at Piper Sandler

Key Points

• Piper Sandler reissued an overweight rating for Asana, setting a price target of $19.00, indicating a potential upside of 33.17% from its previous close.
• Asana recently reported quarterly earnings with a loss of ($0.20) EPS, which was below analysts' expectations, despite a 9.9% increase in revenue year-over-year.
• Insider activity showed that Director Dustin A. Moskovitz acquired 122,470 shares of Asana stock, increasing his ownership position, while institutional investors have significantly increased their stakes in the company.

Asana (NYSE:ASAN - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Piper Sandler in a research note issued on Thursday,Benzinga reports. They presently have a $19.00 price target on the stock. Piper Sandler's target price would indicate a potential upside of 37.63% from the stock's current price.

ASAN has been the topic of several other research reports. Scotiabank boosted their price objective on Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a report on Wednesday, June 4th. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $10.00 price objective on shares of Asana in a research report on Wednesday, June 4th. HSBC restated a "reduce" rating and set a $10.00 price target (down previously from $13.00) on shares of Asana in a report on Wednesday, June 4th. Finally, JMP Securities reissued a "market outperform" rating and set a $22.00 price objective on shares of Asana in a research report on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Asana currently has a consensus rating of "Hold" and a consensus price target of $16.10.

Asana Price Performance

Shares of Asana stock traded up $0.04 on Thursday, hitting $13.81. 2,031,824 shares of the company were exchanged, compared to its average volume of 3,559,658. The company has a 50-day moving average price of $14.24 and a 200 day moving average price of $15.23. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of -15.49 and a beta of 1.14. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. Asana has a 1-year low of $11.05 and a 1-year high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). The business had revenue of $196.94 million for the quarter, compared to analyst estimates of $193.01 million. Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The firm'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 business posted ($0.05) earnings per share. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. As a group, sell-side analysts predict that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Activity at Asana

In related news, Director Dustin A. Moskovitz purchased 122,470 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was acquired at an average price of $13.52 per share, for a total transaction of $1,655,794.40. Following the acquisition, the director directly owned 57,898,436 shares of the company's stock, valued at $782,786,854.72. This trade represents a 0.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have acquired 5,375,000 shares of company stock worth $75,920,894 and have sold 3,033,130 shares worth $45,552,218. Insiders own 61.28% of the company's stock.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. Bogart Wealth LLC purchased a new position in shares of Asana during the 2nd quarter worth about $27,000. Banque Cantonale Vaudoise acquired a new position in shares of Asana in the 1st quarter valued at approximately $28,000. AlphaQuest LLC boosted its stake in shares of Asana by 825.1% during 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 during the last quarter. Quarry LP increased its stake in shares of Asana by 104.8% in the first quarter. Quarry LP now owns 2,906 shares of the company's stock worth $42,000 after buying an additional 1,487 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock valued at $59,000 after acquiring an additional 1,706 shares in the last quarter. 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.