Brokers Issue Forecasts for Asana's Q2 Earnings (NYSE:ASAN)

Asana, Inc. (NYSE:ASAN - Free Report) - Equities research analysts at DA Davidson issued their Q2 2026 earnings per share (EPS) estimates for Asana in a report released on Wednesday, June 4th. DA Davidson analyst L. Schreiner expects that the company will post earnings per share of ($0.18) for the quarter. DA Davidson has a "Neutral" rating and a $12.00 price target on the stock. The consensus estimate for Asana's current full-year earnings is ($1.09) per share.

Other equities research analysts have also recently issued reports about the company. Bank of America decreased their price objective on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday. Royal Bank of Canada restated an "underperform" rating and set a $10.00 target price on shares of Asana in a research report on Wednesday. KeyCorp reiterated a "sector weight" rating on shares of Asana in a research report on Wednesday. Scotiabank boosted their price objective on shares of Asana from $12.00 to $16.50 and gave the company a "sector perform" rating in a report on Wednesday. Finally, HSBC reaffirmed a "reduce" rating and issued a $10.00 target price (down previously from $13.00) on shares of Asana in a research note on Wednesday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $15.97.

Asana Trading Up 1.0%

ASAN traded up $0.15 during trading on Thursday, reaching $14.87. 5,995,751 shares of the company's stock were exchanged, compared to its average volume of 2,905,033. The company's fifty day moving average price is $16.32 and its 200-day moving average price is $18.26. The firm has a market capitalization of $3.47 billion, a PE ratio of -13.28 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. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million for the quarter, compared to analyst estimates of $185.40 million. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS.

Hedge Funds Weigh In On Asana

Several hedge funds have recently modified their holdings of ASAN. Arrowstreet Capital Limited Partnership acquired a new position in Asana during the fourth quarter valued at approximately $38,966,000. Acadian Asset Management LLC raised its stake in shares of Asana by 8,850.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company's stock worth $16,950,000 after purchasing an additional 1,151,369 shares in the last quarter. Paradice Investment Management LLC acquired a new stake in shares of Asana in the 4th quarter valued at approximately $22,507,000. Two Sigma Investments LP grew its stake in shares of Asana by 288.1% in the fourth quarter. Two Sigma Investments LP now owns 1,405,088 shares of the company's stock valued at $28,481,000 after buying an additional 1,043,047 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Asana by 8.1% during the fourth quarter. Voya Investment Management LLC now owns 12,539,038 shares of the company's stock worth $254,166,000 after buying an additional 937,726 shares during the last quarter. Institutional investors own 26.21% of the company's stock.

Insider Activity at Asana

In other Asana news, CEO Dustin A. Moskovitz purchased 225,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $12.91 per share, with a total value of $2,904,750.00. Following the purchase, the chief executive officer now directly owns 48,123,436 shares of the company's stock, valued at $621,273,558.76. The trade was a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Anne Raimondi sold 18,775 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total transaction of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares in the company, valued at approximately $10,053,617.40. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 2,074,507 shares of company stock valued at $30,025,743. 61.28% of the stock is owned by insiders.

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.