Wall Street Zen Downgrades Asana (NYSE:ASAN) to Hold

Key Points

• Asana (NYSE:ASAN) has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, reflecting a shift in investor sentiment.
• The company's latest quarterly earnings reported a loss of ($0.20) per share, significantly missing the consensus estimate of $0.05, despite revenue exceeding expectations at $196.94 million.
• Asana's stock currently has an average rating of "Hold" from analysts, with a consensus target price set at $16.10.

Asana (NYSE:ASAN - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Several other research analysts have also weighed in on the company. Robert W. Baird increased their price objective on Asana from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Piper Sandler reiterated an "overweight" rating and issued a $19.00 price objective on shares of Asana in a research report on Thursday, September 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Asana in a research report on Wednesday, October 8th. Finally, Morgan Stanley increased their price objective on Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $16.10.

Asana Price Performance

NYSE:ASAN opened at $13.92 on Friday. Asana has a one year low of $11.58 and a one year high of $27.77. 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 stock has a market cap of $3.29 billion, a PE ratio of -15.63 and a beta of 1.11. The stock has a 50 day moving average price of $13.97 and a 200 day moving average price of $14.82.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $196.94 million during the quarter, compared to analysts' expectations of $193.01 million. Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The company's revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Asana has set its Q3 2026 guidance at 0.060-0.070 EPS. FY 2026 guidance at 0.230-0.250 EPS. Equities research analysts expect that Asana will post -1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Justin Rosenstein sold 1,199,560 shares of Asana stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $15.23, for a total value of $18,269,298.80. Following the completion of the transaction, the director directly owned 1,555,925 shares in the company, valued at approximately $23,696,737.75. This trade represents a 43.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dustin A. Moskovitz bought 225,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was bought at an average price of $15.04 per share, with a total value of $3,384,000.00. Following the completion of the acquisition, the director owned 54,405,999 shares of the company's stock, valued at $818,266,224.96. This trade represents a 0.42% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,492,437 shares of company stock valued at $49,258,741 and sold 4,703,749 shares valued at $70,763,816. Company insiders own 61.28% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Asana by 4.7% in the first quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company's stock valued at $155,261,000 after buying an additional 475,100 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Asana by 104.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,160,975 shares of the company's stock valued at $56,173,000 after buying an additional 2,126,683 shares in the last quarter. Geode Capital Management LLC raised its stake in Asana by 13.9% in the second quarter. Geode Capital Management LLC now owns 2,153,811 shares of the company's stock valued at $29,080,000 after buying an additional 263,601 shares in the last quarter. Acadian Asset Management LLC raised its stake in Asana by 73.5% in the second quarter. Acadian Asset Management LLC now owns 2,020,660 shares of the company's stock valued at $27,256,000 after buying an additional 856,282 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Asana by 594.9% in the second quarter. Marshall Wace LLP now owns 1,285,583 shares of the company's stock valued at $17,355,000 after buying an additional 1,100,575 shares in the last quarter. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

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