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 report released on Thursday,Benzinga reports. They presently have a $19.00 price target on the stock. Piper Sandler's price objective indicates a potential upside of 41.42% from the stock's current price.

ASAN has been the subject of a number of other reports. UBS Group upped their price objective on shares of Asana from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $10.00 target price on shares of Asana in a report on Wednesday, June 4th. Morgan Stanley dropped their target price on shares of Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a report on Wednesday, June 4th. Finally, Bank of America dropped their target price on shares of Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $16.10.

Asana Price Performance

NYSE:ASAN traded down $1.20 during trading hours on Thursday, reaching $13.44. 9,397,682 shares of the company were exchanged, compared to its average volume of 4,148,384. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.16. The stock's 50-day moving average is $14.23 and its 200-day moving average is $15.33. The firm has a market cap of $3.16 billion, a PE ratio of -15.10 and a beta of 1.14. Asana has a twelve month low of $11.05 and a twelve month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.25). The company 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 83.00% and a negative net margin of 27.50%.The business's revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company 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. On average, sell-side analysts anticipate that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Dustin A. Moskovitz acquired 122,470 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average price of $13.52 per share, with a total value of $1,655,794.40. Following the completion of the acquisition, the director 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 legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have bought 5,375,000 shares of company stock valued at $75,920,894 and have sold 3,033,130 shares valued at $45,552,218. Corporate insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after buying an additional 475,100 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Asana by 104.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company's stock valued at $56,173,000 after buying an additional 2,126,683 shares during the last quarter. Geode Capital Management LLC lifted its position in Asana by 13.9% in the second quarter. Geode Capital Management LLC now owns 2,153,811 shares of the company's stock valued at $29,080,000 after buying an additional 263,601 shares during the last quarter. Voloridge Investment Management LLC lifted its position in Asana by 25.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,149,680 shares of the company's stock valued at $43,574,000 after buying an additional 438,057 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Asana by 73.5% in the second quarter. Acadian Asset Management LLC now owns 2,020,660 shares of the company's stock valued at $27,256,000 after buying an additional 856,282 shares during the last quarter. Hedge funds and other institutional investors own 26.21% 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. 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.