Asana (NYSE:ASAN) Price Target Raised to $16.00

Key Points

• Robert W. Baird has raised Asana's price target from $15 to $16, indicating a potential upside of 9.10% from the current share price while maintaining a "neutral" rating on the stock.
• Asana's latest earnings report revealed a loss of ($0.20) per share, missing consensus estimates, despite a year-over-year revenue increase of 9.9% to $196.94 million.
• Insider buying activity has been significant, with Director Dustin A. Moskovitz purchasing 122,470 shares, bringing insider ownership to approximately 61.28% of the company.

Asana (NYSE:ASAN - Get Free Report) had its price target upped by equities research analysts at Robert W. Baird from $15.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's target price would suggest a potential upside of 16.09% from the stock's current price.

ASAN has been the subject of several other reports. FBN Securities upgraded shares of Asana to a "strong-buy" rating in a research report on Wednesday, June 4th. Morgan Stanley upped their price target on shares of Asana from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Thursday, September 4th. Royal Bank Of Canada restated an "underperform" rating and set a $10.00 price target on shares of Asana in a research report on Wednesday, June 4th. UBS Group upped their price target on shares of Asana from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $19.00 price objective on shares of Asana in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $16.10.

Asana Stock Performance

Shares of Asana stock traded up $0.01 during mid-day trading on Thursday, hitting $13.78. 2,411,957 shares of the stock were exchanged, compared to its average volume of 3,561,594. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $3.24 billion, a P/E ratio of -15.41 and a beta of 1.14. The company has a 50-day simple moving average of $14.24 and a 200 day simple moving average of $15.23. Asana has a 12 month low of $11.05 and a 12 month high of $27.77.

Asana (NYSE:ASAN - Get Free Report) last issued its earnings results 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 the consensus estimate of $193.01 million. Asana had a negative net margin of 27.50% and a negative return on equity of 83.88%. The company's revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. Sell-side analysts anticipate that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Dustin A. Moskovitz bought 225,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were bought at an average price of $13.58 per share, for a total transaction of $3,055,500.00. Following the completion of the acquisition, the chief executive officer owned 51,711,191 shares of the company's stock, valued at $702,237,973.78. This trade represents a 0.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Justin Rosenstein sold 966,576 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the completion of the sale, the director owned 4,797,091 shares in the company, valued at $72,148,248.64. This represents a 16.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 5,375,000 shares of company stock valued at $75,920,894 and have sold 3,033,130 shares valued at $45,552,218. 61.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Marex Group plc purchased a new position in shares of Asana during the 2nd quarter worth $4,772,000. State of Wyoming bought a new stake in shares of Asana during the 2nd quarter valued at $284,000. Caxton Associates LLP bought a new stake in shares of Asana during the 2nd quarter valued at $218,000. Headlands Technologies LLC bought a new stake in shares of Asana during the 2nd quarter valued at $90,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Asana by 226.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,732 shares of the company's stock valued at $158,000 after purchasing an additional 8,138 shares during the period. Hedge funds and other institutional investors 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.