Robert W. Baird Forecasts Strong Price Appreciation for Asana (NYSE:ASAN) Stock

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 objective upped by Robert W. Baird from $15.00 to $16.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's target price points to a potential upside of 9.10% from the company's previous close.

A number of other research firms also recently commented on ASAN. FBN Securities upgraded Asana to a "strong-buy" rating in a report on Wednesday, June 4th. JMP Securities reiterated a "market outperform" rating and issued a $22.00 price objective on shares of Asana in a report on Wednesday, June 4th. Wall Street Zen downgraded Asana from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Bank of America lowered their price target on Asana from $23.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Finally, Jefferies Financial Group increased their price target on Asana from $15.00 to $17.00 and gave the stock a "hold" rating in a report on Wednesday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $16.10.

Asana Stock Performance

Shares of ASAN stock traded up $0.44 during trading on Thursday, reaching $14.67. The company had a trading volume of 7,862,631 shares, compared to its average volume of 3,497,252. The firm's 50 day simple moving average is $14.20 and its two-hundred day simple moving average is $15.51. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.47 and a quick ratio of 1.47. Asana has a one year low of $11.05 and a one year high of $27.77. The company has a market capitalization of $3.45 billion, a PE ratio of -14.56 and a beta of 1.14.

Asana (NYSE:ASAN - Get Free Report) last released its earnings results on Wednesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.25). Asana had a negative net margin of 31.38% and a negative return on equity of 87.78%. The company had revenue of $196.94 million during the quarter, compared to the consensus estimate of $193.01 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The firm's quarterly revenue was up 9.9% on a year-over-year basis. 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 forecast that Asana will post -1.09 earnings per share for the current year.

Insider Activity

In other news, Director Dustin A. Moskovitz bought 122,470 shares of the stock in a transaction dated Thursday, August 21st. The shares were bought at an average price of $13.52 per share, for a total transaction of $1,655,794.40. Following the completion of the purchase, the director owned 57,898,436 shares in the company, valued at approximately $782,786,854.72. This trade represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 5,375,000 shares of company stock valued at $75,920,894 and sold 3,033,130 shares valued at $45,552,218. 61.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

A number of hedge funds have recently added to or reduced their stakes in the stock. Bogart Wealth LLC acquired a new stake in shares of Asana during the 2nd quarter valued at $27,000. Banque Cantonale Vaudoise acquired a new position in Asana during the 1st quarter worth about $28,000. AlphaQuest LLC lifted its holdings in Asana by 825.1% during the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after buying an additional 2,203 shares during the period. Quarry LP lifted its holdings in Asana by 104.8% during the 1st 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 period. Finally, Daiwa Securities Group Inc. lifted its holdings in Asana by 64.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company's stock worth $59,000 after buying an additional 1,706 shares during the period. 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.

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