Scotiabank Brokers Increase Earnings Estimates for Asana

Asana, Inc. (NYSE:ASAN - Free Report) - Scotiabank raised their FY2026 earnings per share estimates for Asana in a report released on Monday, June 9th. Scotiabank analyst A. Verkhovski now expects that the company will post earnings of ($0.65) per share for the year, up from their prior estimate of ($0.71). Scotiabank has a "Sector Perform" rating and a $16.50 price objective on the stock. The consensus estimate for Asana's current full-year earnings is ($1.09) per share.

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

Several other analysts have also commented on ASAN. DA Davidson cut their price objective on Asana from $20.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, March 11th. Royal Bank of Canada reiterated an "underperform" rating and issued a $10.00 target price on shares of Asana in a research report on Wednesday, June 4th. HSBC reiterated a "reduce" rating and set a $10.00 target price (down from $13.00) on shares of Asana in a research report on Wednesday, June 4th. KeyCorp reissued a "sector weight" rating on shares of Asana in a research note on Wednesday, June 4th. Finally, Morgan Stanley decreased their target price on Asana from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, June 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $15.97.

Asana Stock Performance

Shares of ASAN traded down $0.34 during trading hours on Thursday, hitting $13.80. The stock had a trading volume of 5,451,528 shares, compared to its average volume of 2,953,867. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.49 and a quick ratio of 1.49. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The firm has a market capitalization of $3.22 billion, a PE ratio of -12.32 and a beta of 1.23. The stock has a fifty day moving average price of $16.28 and a 200 day moving average price of $18.26.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 18,775 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the transaction, the chief operating officer now directly owns 716,580 shares of the company's stock, valued at approximately $10,053,617.40. This represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dustin A. Moskovitz bought 225,000 shares of the company's stock in a transaction on Monday, March 17th. The stock was bought at an average price of $14.02 per share, with a total value of $3,154,500.00. Following the completion of the acquisition, the chief executive officer now owns 48,573,436 shares in the company, valued at $680,999,572.72. This represents a 0.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 1,849,507 shares of company stock worth $27,120,993 over the last quarter. Insiders own 61.28% of the company's stock.

Institutional Trading of Asana

Several large investors have recently added to or reduced their stakes in ASAN. Quarry LP purchased a new position in shares of Asana during the 4th quarter worth $29,000. Banque Cantonale Vaudoise acquired a new stake in shares of Asana during the 1st quarter worth about $28,000. AlphaQuest LLC raised its position in shares of Asana by 825.1% during the 1st quarter. AlphaQuest LLC now owns 2,470 shares of the company's stock worth $36,000 after acquiring an additional 2,203 shares in the last quarter. Bogart Wealth LLC acquired a new position in Asana during the fourth quarter worth approximately $61,000. Finally, SBI Securities Co. Ltd. acquired a new position in Asana during the fourth quarter worth approximately $82,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.