Asana (NYSE:ASAN) Rating Lowered to “Hold” at Wall Street Zen

Asana (NYSE:ASAN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also recently commented on ASAN. Zacks Research cut shares of Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Citigroup reiterated a “market outperform” rating on shares of Asana in a report on Monday, August 24th. Citizens Jmp reissued a “market outperform” rating and set a $15.00 price objective on shares of Asana in a research report on Friday. Robert W. Baird boosted their target price on Asana from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Royal Bank Of Canada upped their target price on Asana from $8.00 to $9.50 and gave the stock a “sector perform” rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Asana presently has a consensus rating of “Hold” and an average target price of $9.95.

Asana Price Performance

NYSE ASAN opened at $8.81 on Friday. The company has a 50 day simple moving average of $8.43 and a 200-day simple moving average of $7.37. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.35 and a beta of 0.95. Asana has a 52-week low of $5.38 and a 52-week high of $15.48.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The business had revenue of $216.43 million during the quarter, compared to analysts’ expectations of $214.15 million. During the same period last year, the company posted $0.06 earnings per share. 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. On average, analysts predict that Asana will post -0.4 EPS for the current year.

Insider Buying and Selling at Asana

In other news, CAO Veronica Sosa sold 11,378 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $75,777.48. Following the transaction, the chief accounting officer owned 62,344 shares in the company, valued at $415,211.04. This represents a 15.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Katie Colendich sold 8,337 shares of the firm’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 transaction, the insider owned 181,840 shares in the company, valued at $1,225,601.60. This represents a 4.38% 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 90 days, insiders have sold 119,959 shares of company stock worth $809,325. Company insiders own 87.54% of the company’s stock.

Institutional Trading of Asana

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Asana by 0.4% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Asana by 37.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after acquiring an additional 1,969,657 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Asana by 53.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after acquiring an additional 977,107 shares in the last quarter. Marshall Wace LLP lifted its holdings in Asana by 35.1% in 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 last quarter. Finally, Bank of America Corp DE lifted its holdings in Asana by 92.6% in the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after purchasing an additional 1,075,572 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Key Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported fiscal second-quarter adjusted EPS of $0.10, ahead of 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 Announces Second Quarter Fiscal 2027 Results
• Positive Sentiment: Fiscal 2027 revenue guidance of $858.5 million to $863.5 million was broadly in line with consensus, while the company’s EPS outlook of $0.37 was above the $0.22 analyst estimate. Management also highlighted improving retention, stronger upmarket momentum and growing adoption of its AI products. Asana FY2027 Outlook
• Positive Sentiment: Several analysts raised their valuation targets following the results. RBC increased its target to $9.50 from $8, UBS raised its target to $10 from $8, and Piper Sandler lifted its target to $9 from $7. Citizens JMP maintained an outperform rating with a $15 target. RBC Raises Asana Price Target
• Neutral Sentiment: Asana executives will present at Citi’s Global TMT Conference on September 9 and Piper Sandler’s Growth Frontiers Conference on September 15. These events could provide updates on AI-agent coordination, enterprise demand and retention trends. Asana Investor Events
• Negative Sentiment: The immediate share-price weakness was driven primarily by soft fiscal third-quarter guidance: revenue of $217 million to $219 million is slightly below or near consensus, and investors viewed the outlook as insufficient after the earnings beat. Asana Stock Outlook
• Negative Sentiment: Analysts and investors remain concerned about churn and Asana’s still-negative profitability, creating skepticism that AI momentum will translate into faster durable growth. Asana Churn Analysis

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.