Wall Street Zen Upgrades Asana (NYSE:ASAN) to "Strong-Buy"

Key Points

• Wall Street Zen upgraded Asana from “buy” to “strong-buy,” but the broader analyst view remains cautious, with MarketBeat showing an average rating of Hold and a consensus price target of $9.27.
• Asana’s latest earnings beat expectations, posting EPS of $0.10 versus the $0.08 estimate and revenue of $205.1 million, up 9.5% year over year. The company still reported negative margins and a negative return on equity.
• Insider activity has leaned toward selling, with the CFO and CAO both reducing holdings, while institutional investors such as Vanguard, Goldman Sachs, and Bank of America increased their positions. Asana opened at $7.41, below its 52-week high of $15.71.

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

A number of other equities research analysts have also weighed in on ASAN. Weiss Ratings restated a "sell (e+)" rating on shares of Asana in a report on Friday, May 8th. Royal Bank Of Canada raised their price objective on shares of Asana from $7.00 to $8.00 and gave the company a "sector perform" rating in a report on Friday, May 29th. Morgan Stanley cut their price target on shares of Asana from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Friday, May 29th. Robert W. Baird cut their price target on shares of Asana from $16.00 to $9.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd. Finally, Citizens Jmp reiterated a "market outperform" rating and set a $15.00 price target on shares of Asana in a research note on Friday, May 29th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Asana presently has an average rating of "Hold" and a consensus target price of $9.27.

Asana Stock Performance

NYSE:ASAN opened at $7.41 on Friday. The stock has a market capitalization of $1.71 billion, a P/E ratio of -10.73 and a beta of 1.02. The company has a 50 day moving average price of $6.65 and a 200 day moving average price of $9.05. Asana has a fifty-two week low of $5.38 and a fifty-two week high of $15.71.

Asana (NYSE:ASAN - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The firm had revenue of $205.10 million during the quarter, compared to analysts' expectations of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Research analysts forecast that Asana will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asana news, CAO Veronica Sosa sold 6,479 shares of Asana stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $43,085.35. Following the transaction, the chief accounting officer directly owned 73,722 shares in the company, valued at approximately $490,251.30. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sonalee Elizabeth Parekh sold 34,151 shares of Asana stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total transaction of $227,104.15. Following the completion of the transaction, the chief financial officer owned 933,998 shares in the company, valued at approximately $6,211,086.70. This represents a 3.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 62,922 shares of company stock worth $417,870. 61.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Asana by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company's stock worth $180,606,000 after acquiring an additional 48,847 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Asana by 37.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company's stock worth $45,979,000 after acquiring an additional 1,969,657 shares during the period. Goldman Sachs Group Inc. increased its position in Asana by 53.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company's stock worth $38,277,000 after purchasing an additional 977,107 shares during the period. Marshall Wace LLP increased its position in Asana by 35.1% during the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company's stock worth $36,375,000 after purchasing an additional 689,546 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Asana by 92.6% during the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company's stock worth $14,318,000 after buying an additional 1,075,572 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

About Asana

Asana, Inc NYSE: ASAN is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana's platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company's cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.