Scotiabank Analysts Increase Earnings Estimates for Asana

Asana, Inc. (NYSE:ASAN - Free Report) - Investment analysts at Scotiabank lifted their FY2026 earnings per share estimates for shares of Asana in a research report issued on Monday, June 9th. Scotiabank analyst A. Verkhovski now forecasts that the company will post earnings per share of ($0.65) for the year, up from their previous forecast of ($0.71). Scotiabank currently has a "Sector Perform" rating and a $16.50 target price on the stock. The consensus estimate for Asana's current full-year earnings is ($1.09) per share.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird raised their price target on shares of Asana from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Morgan Stanley dropped their price target on shares of Asana from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 4th. JMP Securities reaffirmed a "market outperform" rating and issued a $22.00 price target on shares of Asana in a research report on Wednesday, June 4th. Piper Sandler raised their price target on shares of Asana from $17.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, Bank of America dropped their price target on shares of Asana from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.97.

Asana Stock Down 4.5%

NYSE ASAN traded down $0.63 during trading hours on Thursday, hitting $13.21. The company's stock had a trading volume of 3,504,427 shares, compared to its average volume of 2,962,366. Asana has a 52 week low of $11.05 and a 52 week high of $27.77. The company has a market capitalization of $3.08 billion, a PE ratio of -11.79 and a beta of 1.23. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company's 50-day simple moving average is $16.27 and its two-hundred day simple moving average is $18.28.

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

Insider Buying and Selling

In related news, CEO Dustin A. Moskovitz purchased 225,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average price of $14.34 per share, with a total value of $3,226,500.00. Following the acquisition, the chief executive officer now owns 49,023,436 shares of the company's stock, valued at $702,996,072.24. This trade represents a 0.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction that occurred 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 $10,053,617.40. This trade represents a 2.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,849,507 shares of company stock valued at $27,120,993. 61.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in Asana by 3.1% during the 1st quarter. Rhumbline Advisers now owns 125,556 shares of the company's stock valued at $1,829,000 after acquiring an additional 3,739 shares during the period. Strs Ohio bought a new position in shares of Asana in the first quarter worth $195,000. Acadian Asset Management LLC increased its holdings in shares of Asana by 8,850.6% in the first 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 during the period. Bayforest Capital Ltd increased its holdings in shares of Asana by 205.9% in the first quarter. Bayforest Capital Ltd now owns 20,614 shares of the company's stock worth $300,000 after purchasing an additional 13,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Asana by 14.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company's stock worth $3,770,000 after purchasing an additional 32,708 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.