Asana, Inc. (NYSE:ASAN) Stock Has Average Target Price of $9.95

Asana, Inc. (NYSE:ASAN) has received an average rating of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.95.

Several brokerages recently commented on ASAN. Piper Sandler boosted their price target on shares of Asana from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Asana from a “hold” rating to a “buy” rating in a research report on Sunday, October 4th. Zacks Research lowered shares of Asana from a “hold” rating to a “strong sell” rating in a research report on Friday, October 9th. Finally, BTIG Research reissued a “neutral” rating on shares of Asana in a research note on Friday, September 4th.

Insider Buying and Selling

In other Asana news, insider Katie Colendich sold 6,318 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $8.65, for a total transaction of $54,650.70. Following the completion of the sale, the insider directly owned 155,371 shares in the company, valued at approximately $1,343,959.15. The trade was a 3.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel Rogers sold 19,676 shares of the stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $11.52, for a total value of $226,667.52. Following the transaction, the chief executive officer directly owned 1,437,022 shares of the company’s stock, valued at $16,554,493.44. The trade was a 1.35% 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 three months, insiders have sold 551,360 shares of company stock worth $5,239,118. Insiders own 87.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. grew its stake in Asana by 7.6% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 30,994 shares of the company’s stock valued at $261,000 after acquiring an additional 2,187 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Asana by 39.7% in the third quarter. Versant Capital Management Inc now owns 8,443 shares of the company’s stock valued at $71,000 after purchasing an additional 2,401 shares in the last quarter. Sterling Capital Management LLC grew its position in shares of Asana by 801.8% in the third quarter. Sterling Capital Management LLC now owns 3,084 shares of the company’s stock valued at $26,000 after purchasing an additional 2,742 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Asana by 13.9% in the first quarter. Blue Trust Inc. now owns 33,716 shares of the company’s stock valued at $216,000 after purchasing an additional 4,117 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its holdings in shares of Asana by 20.3% in the second quarter. 180 Wealth Advisors LLC now owns 27,637 shares of the company’s stock valued at $193,000 after purchasing an additional 4,655 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Stock Up 4.9%

Shares of Asana stock opened at $12.06 on Friday. Asana has a twelve month low of $5.38 and a twelve month high of $15.28. The business has a 50-day moving average price of $9.57 and a 200 day moving average price of $8.00. The firm has a market cap of $2.76 billion, a PE ratio of -18.28 and a beta of 1.19.

Asana (NYSE:ASAN) last issued its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Asana had a negative return on equity of 80.33% and a negative net margin of 18.62%. The company had revenue of $216.43 million for the quarter, compared to the consensus estimate of $214.15 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. Asana’s revenue for the quarter was up 9.9% on a year-over-year basis. 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, sell-side analysts expect that Asana will post -0.53 EPS for the current year.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and ongoing business processes. Its platform is designed to provide teams with a shared view of work, responsibilities, deadlines and progress across departments and functions.

Asana’s products include tools for project and task management, workflow coordination, goals, portfolios, reporting and team collaboration. The platform also incorporates automation and artificial intelligence features intended to help users organize work, streamline recurring processes and gain visibility into organizational priorities.

The company was founded in 2008 by Dustin Moskovitz, a co-founder of Facebook, and Justin Rosenstein, a former Facebook and Google executive.