Weiss Ratings Reaffirms Sell (E+) Rating for Asana (NYSE:ASAN)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for Asana (NYSE: ASAN), indicating a negative outlook on the stock's performance.
• Asana's recent earnings report showed a loss of ($0.20) per share, significantly missing the consensus estimate and marking a decrease from the previous year. However, the company's revenue grew by 9.9% year-over-year, totaling $196.94 million.
• Multiple analysts have varied ratings for Asana, with one Strong Buy, four Buy, seven Hold, and five Sell ratings, contributing to an average rating of "Hold" and a target price of $16.10.

Asana (NYSE:ASAN - Get Free Report)'s stock had its "sell (e+)" rating restated by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

ASAN has been the subject of several other research reports. Piper Sandler restated an "overweight" rating and issued a $19.00 target price on shares of Asana in a research report on Thursday, September 4th. Morgan Stanley upped their price target on shares of Asana from $13.00 to $14.00 and gave the stock an "underweight" rating in a research note on Thursday, September 4th. Robert W. Baird upped their price target on shares of Asana from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, September 4th. Finally, Wall Street Zen raised shares of Asana from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, Asana currently has an average rating of "Hold" and a consensus target price of $16.10.

Asana Stock Performance

NYSE ASAN traded up $0.78 on Wednesday, hitting $15.13. The stock had a trading volume of 5,223,651 shares, compared to its average volume of 3,597,180. Asana has a one year low of $11.37 and a one year high of $27.77. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of -17.00 and a beta of 1.11. The company's 50-day moving average is $13.98 and its two-hundred day moving average is $14.86.

Asana (NYSE:ASAN - Get Free Report) last posted its earnings results on Wednesday, September 3rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.25). Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The firm had revenue of $196.94 million during the quarter, compared to the consensus estimate of $193.01 million. During the same quarter last year, the company posted ($0.05) EPS. Asana's revenue for the quarter 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. On average, analysts expect that Asana will post -1.09 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Dustin A. Moskovitz acquired 225,000 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was purchased at an average price of $14.16 per share, with a total value of $3,186,000.00. Following the purchase, the chief executive officer owned 52,610,408 shares of the company's stock, valued at approximately $744,963,377.28. This trade represents a 0.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Justin Rosenstein sold 966,576 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $15.04, for a total transaction of $14,537,303.04. Following the completion of the sale, the director owned 4,797,091 shares of the company's stock, valued at approximately $72,148,248.64. The trade was a 16.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 4,613,028 shares of company stock valued at $65,294,432 and sold 3,286,376 shares valued at $49,186,399. Company insiders own 61.28% of the company's stock.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. GAMMA Investing LLC lifted its position in Asana by 5,815.7% in the 1st quarter. GAMMA Investing LLC now owns 9,820 shares of the company's stock worth $1,430,000 after buying an additional 9,654 shares in the last quarter. Rhumbline Advisers lifted its position in Asana by 3.1% in the 1st quarter. Rhumbline Advisers now owns 125,556 shares of the company's stock worth $1,829,000 after buying an additional 3,739 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Asana by 23.0% in the 1st quarter. Harbor Capital Advisors Inc. now owns 18,079 shares of the company's stock worth $263,000 after buying an additional 3,383 shares in the last quarter. SG Americas Securities LLC lifted its position in Asana by 3.1% in the 1st quarter. SG Americas Securities LLC now owns 32,460 shares of the company's stock worth $473,000 after buying an additional 974 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Asana during the 1st quarter valued at $223,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

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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