Asana (NYSE:ASAN) Posts Earnings Results, Beats Expectations By $0.03 EPS

Asana (NYSE:ASAN) announced its quarterly earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03, RTT News reports. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Asana updated its FY 2026 guidance to 0.220-0.220 EPS and its Q2 2026 guidance to 0.040-0.050 EPS.

Asana Stock Up 3.3%

NYSE:ASAN traded up $0.60 on Tuesday, reaching $18.98. 6,672,087 shares of the stock traded hands, compared to its average volume of 2,782,163. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -16.95 and a beta of 1.21. Asana has a 12 month low of $11.05 and a 12 month high of $27.77. The company’s fifty day simple moving average is $16.23 and its 200 day simple moving average is $18.28.

Analysts Set New Price Targets

ASAN has been the topic of several research analyst reports. DA Davidson reduced their target price on Asana from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Bank of America reduced their price objective on shares of Asana from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. JMP Securities set a $22.00 target price on shares of Asana in a research report on Tuesday, March 11th. UBS Group cut their target price on shares of Asana from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Tuesday, March 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.53.

Insider Transactions at Asana

In related news, Director Justin Rosenstein sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the director now directly owns 922,309 shares of the company’s stock, valued at approximately $11,888,563.01. This represents a 2.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Anne Raimondi sold 18,775 shares of Asana stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $14.03, for a total value of $263,413.25. Following the completion of the sale, the chief operating officer now directly owns 716,580 shares of the company’s stock, valued at approximately $10,053,617.40. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 2,074,507 shares of company stock worth $30,025,743. Corporate insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

Several hedge funds and other institutional investors have recently bought and sold shares of ASAN. Empowered Funds LLC raised its holdings in shares of Asana by 40.9% during the first quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock valued at $371,000 after purchasing an additional 7,381 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Asana by 5.0% during the 1st 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Asana by 14.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company’s stock valued at $3,770,000 after buying an additional 32,708 shares during the period. Institutional investors own 26.21% of the company’s stock.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.