Analysts Anticipate Asana, Inc. (NYSE:ASAN) to Announce -$0.26 Earnings Per Share

Equities analysts predict that Asana, Inc. (NYSE:ASAN) will post ($0.26) earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Asana’s earnings. The highest EPS estimate is ($0.26) and the lowest is ($0.27). Asana posted earnings of ($0.34) per share in the same quarter last year, which indicates a positive year over year growth rate of 23.5%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Asana will report full-year earnings of ($0.97) per share for the current fiscal year, with EPS estimates ranging from ($0.99) to ($0.95). For the next year, analysts forecast that the firm will report earnings of ($1.01) per share, with EPS estimates ranging from ($1.07) to ($0.88). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Asana.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Tuesday, August 31st. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. The company had revenue of $89.50 million for the quarter, compared to analysts’ expectations of $82.26 million. Asana had a negative net margin of 89.91% and a negative return on equity of 288.11%. Asana’s quarterly revenue was up 72.1% on a year-over-year basis.

A number of equities analysts have recently weighed in on the stock. KeyCorp lifted their price target on shares of Asana from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, September 2nd. Royal Bank of Canada boosted their price objective on shares of Asana from $70.00 to $75.00 and gave the company a “sector perform” rating in a research report on Thursday, September 2nd. They noted that the move was a valuation call. Piper Sandler boosted their price objective on shares of Asana from $52.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 2nd. JMP Securities boosted their price objective on shares of Asana from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 2nd. Finally, Oppenheimer boosted their price objective on shares of Asana from $77.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 2nd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $70.92.

In related news, insider Eleanor B. Lacey sold 17,480 shares of Asana stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $69.90, for a total transaction of $1,221,852.00. Following the completion of the sale, the insider now owns 146,839 shares of the company’s stock, valued at approximately $10,264,046.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dustin A. Moskovitz bought 13,915 shares of Asana stock in a transaction that occurred on Monday, September 13th. The shares were bought at an average cost of $100.00 per share, with a total value of $1,391,500.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,013,915 shares of company stock worth $99,636,500 and have sold 138,512 shares worth $11,344,985. 54.43% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pachira Investments Inc. bought a new stake in Asana in the 3rd quarter valued at about $210,000. Legacy Advisors LLC bought a new stake in shares of Asana during the 3rd quarter worth approximately $229,000. Level Four Financial LLC bought a new stake in shares of Asana during the 3rd quarter worth approximately $294,000. CAPROCK Group Inc. lifted its holdings in shares of Asana by 2.2% during the 3rd quarter. CAPROCK Group Inc. now owns 4,745 shares of the company’s stock worth $493,000 after acquiring an additional 100 shares during the period. Finally, IFP Advisors Inc bought a new stake in shares of Asana during the 3rd quarter worth approximately $46,000. 33.87% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE ASAN traded up $1.48 during midday trading on Friday, reaching $116.31. 92,279 shares of the stock were exchanged, compared to its average volume of 3,490,122. The business has a 50-day simple moving average of $94.23 and a two-hundred day simple moving average of $63.02. The company has a market capitalization of $21.39 billion and a price-to-earnings ratio of -64.85. Asana has a 12 month low of $20.57 and a 12 month high of $124.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 2.10.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

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Earnings History and Estimates for Asana (NYSE:ASAN)

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