Asana (NYSE:ASAN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Asana (NYSE:ASAN) from a hold rating to a buy rating in a research report report published on Sunday,Wall Street Zen reports.

Several other equities research analysts have also weighed in on ASAN. Robert W. Baird raised their price objective on Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Citizens Jmp reissued a “market outperform” rating and issued a $15.00 price target on shares of Asana in a research note on Friday, September 4th. Royal Bank Of Canada upped their price objective on shares of Asana from $8.00 to $9.50 and gave the company a “sector perform” rating in a research note on Friday, September 4th. Piper Sandler lifted their target price on shares of Asana from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Finally, UBS Group boosted their price target on shares of Asana from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, September 4th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.95.

Asana Trading Down 1.8%

NYSE:ASAN opened at $9.48 on Friday. The company has a 50-day moving average of $8.67 and a 200-day moving average of $7.45. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -14.37 and a beta of 0.95. Asana has a twelve month low of $5.38 and a twelve month high of $15.48.

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

Insiders Place Their Bets

In other Asana news, CEO Daniel Rogers sold 26,975 shares of Asana stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $179,653.50. Following the transaction, the chief executive officer owned 1,905,780 shares of the company’s stock, valued at $12,692,494.80. The trade was a 1.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aziz Megji sold 31,696 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 778,628 shares of the company’s stock, valued at $5,185,662.48. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 119,959 shares of company stock worth $809,325. Insiders own 87.54% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. lifted its holdings in shares of Asana by 2,008.8% during the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after buying an additional 5,002 shares during the last quarter. Performa Ltd US LLC increased its holdings in Asana by 335.1% in the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after buying an additional 4,775 shares during the last quarter. Leonteq Securities AG acquired a new position in Asana in the fourth quarter worth approximately $98,000. Summit Securities Group LLC bought a new position in Asana during the first quarter valued at approximately $53,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Asana in the fourth quarter valued at approximately $132,000. 26.21% of the stock is owned by institutional investors and hedge funds.

About Asana

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana’s products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.