Asana, Inc. (NYSE:ASAN) Receives Consensus Rating of “Hold” from Brokerages

Asana, Inc. (NYSE:ASAN) has received an average recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $9.2727.

ASAN has been the subject of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating and set a $8.00 price target on shares of Asana in a report on Friday, May 29th. DA Davidson restated a “neutral” rating and set a $8.00 price objective on shares of Asana in a research report on Friday, May 29th. Piper Sandler restated a “neutral” rating and set a $7.00 target price (down from $9.00) on shares of Asana in a research note on Tuesday, April 14th. Zacks Research raised Asana from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, Wall Street Zen lowered Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th.

Insiders Place Their Bets

In other Asana news, CAO Veronica Sosa sold 11,378 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $75,777.48. Following the completion of the transaction, the chief accounting officer owned 62,344 shares of the company’s stock, valued at approximately $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katie Marie Colendich sold 5,242 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $6.68, for a total transaction of $35,016.56. Following the completion of the transaction, the insider directly owned 176,598 shares of the company’s stock, valued at $1,179,674.64. This trade represents a 2.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 118,304 shares of company stock valued at $792,775 in the last quarter. Corporate insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Asana by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after buying an additional 2,328 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Asana by 40.9% during the first quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock worth $371,000 after buying an additional 7,381 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Asana by 14.5% during 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 buying an additional 32,708 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Asana during the second quarter worth $158,000. Finally, Prudential Financial Inc. bought a new position in shares of Asana in the 2nd quarter valued at $160,000. 26.21% of the stock is owned by institutional investors.

Asana Stock Performance

Shares of NYSE ASAN opened at $8.31 on Monday. Asana has a 52 week low of $5.38 and a 52 week high of $15.71. The stock has a market capitalization of $1.92 billion, a P/E ratio of -12.05 and a beta of 0.97. The stock’s fifty day moving average is $7.39 and its 200 day moving average is $7.45.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $205.09 million during the quarter, compared to the consensus estimate of $203.58 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Asana’s revenue for the quarter was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Equities research analysts forecast that Asana will post -0.4 earnings per share for the current year.

Asana Company Profile

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.