Asana (NYSE:ASAN) Price Target Raised to $9.50 at Royal Bank Of Canada

Asana (NYSE:ASAN) had its price target boosted by Royal Bank Of Canada from $8.00 to $9.50 in a report issued on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 12.89% from the company’s current price.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Asana from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 12th. KeyCorp dropped their price target on shares of Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Citigroup restated a “market outperform” rating on shares of Asana in a report on Monday, August 24th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $15.00 price objective on shares of Asana in a research note on Friday. Finally, Zacks Research cut shares of Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Asana presently has a consensus rating of “Hold” and an average price target of $9.86.

Asana Price Performance

Shares of Asana stock opened at $8.41 on Friday. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -12.20 and a beta of 0.95. Asana has a 52-week low of $5.38 and a 52-week high of $15.48. The stock has a 50-day simple moving average of $8.40 and a 200-day simple moving average of $7.36.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The business had revenue of $216.43 million during the quarter, compared to analysts’ expectations of $214.15 million. During the same quarter in the previous year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. As a group, equities research analysts predict that Asana will post -0.4 earnings per share for the current year.

Insider Activity

In related news, insider Katie Colendich sold 8,337 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $6.74, for a total transaction of $56,191.38. Following the completion of the sale, the insider directly owned 181,840 shares of the company’s stock, valued at approximately $1,225,601.60. This represents a 4.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aziz Megji sold 31,696 shares of Asana stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $211,095.36. Following the completion of the transaction, the chief financial officer owned 778,628 shares in the company, valued at $5,185,662.48. This trade represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 119,959 shares of company stock worth $809,325. 87.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Asana

A number of institutional investors have recently made changes to their positions in ASAN. Corient Private Wealth LP acquired a new position in shares of Asana during the 2nd quarter worth about $451,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Asana in the 2nd quarter valued at approximately $415,000. California State Teachers Retirement System grew its holdings in Asana by 874.2% in the 2nd quarter. California State Teachers Retirement System now owns 764,533 shares of the company’s stock valued at $5,352,000 after buying an additional 686,051 shares during the last quarter. HB Wealth Management LLC bought a new position in Asana in the 2nd quarter worth approximately $71,000. Finally, Handelsbanken Fonder AB increased its position in Asana by 41.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 32,900 shares of the company’s stock worth $230,000 after buying an additional 9,700 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Key Headlines Impacting Asana

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported fiscal Q2 adjusted EPS of $0.10, above the $0.09 consensus estimate, while revenue of $216.4 million exceeded expectations of $214.2 million and increased 9.9% year over year. Asana Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management forecast fiscal 2027 EPS of $0.37, well above the $0.22 analyst consensus, and projected revenue of $858.5 million to $863.5 million, broadly in line with expectations. Asana also plans to roll out its Agentic Work Management offering in mid-September. Asana Forecasts Fiscal 2027 Revenue and Agentic Work Management Launch
• Neutral Sentiment: Piper Sandler raised its price target from $7 to $9 but maintained a neutral rating, implying roughly 10.4% downside from the referenced $10.05 price. BTIG Research also reaffirmed its neutral rating, indicating limited analyst conviction despite the higher target.
• Negative Sentiment: Asana’s fiscal Q3 revenue guidance of $217 million to $219 million was slightly below the $218.2 million consensus at the midpoint. Although projected EPS of $0.08 exceeded the $0.05 consensus, investors appeared more concerned about the pace of revenue growth and the company’s ongoing negative profitability metrics. Shares fell in extended trading following the report. Asana Stock Falls as Q3 Outlook Disappoints

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.