Asana (NYSE:ASAN – Get Rating) issued an update on its third quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -$0.33–$0.32 for the period, compared to the consensus estimate of -$0.32. The company issued revenue guidance of $138.50 million-$139.50 million, compared to the consensus revenue estimate of $137.64 million. Asana also updated its FY 2023 guidance to EPS.
Asana Trading Down 5.2 %
ASAN stock traded down $1.13 during midday trading on Friday, reaching $20.80. The company’s stock had a trading volume of 15,777 shares, compared to its average volume of 5,966,304. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a fifty day simple moving average of $21.83 and a two-hundred day simple moving average of $25.59. Asana has a 1 year low of $16.19 and a 1 year high of $145.79. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of -11.19 and a beta of 1.82.
Asana (NYSE:ASAN – Get Rating) last released its earnings results on Wednesday, September 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. Asana had a negative return on equity of 212.28% and a negative net margin of 79.34%. The business had revenue of $134.90 million for the quarter, compared to analyst estimates of $127.27 million. During the same quarter last year, the firm posted ($0.36) earnings per share. The business’s revenue was up 50.8% compared to the same quarter last year. On average, equities research analysts predict that Asana will post -2.12 EPS for the current year.
Wall Street Analysts Forecast Growth
Insider Buying and Selling
In other news, CEO Dustin A. Moskovitz bought 19,273,127 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was purchased at an average price of $18.16 per share, with a total value of $349,999,986.32. Following the completion of the acquisition, the chief executive officer now directly owns 39,112,803 shares of the company’s stock, valued at approximately $710,288,502.48. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 61.87% of the company’s stock.
Institutional Investors Weigh In On Asana
A number of institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. raised its position in Asana by 239.8% during the second quarter. Prudential Financial Inc. now owns 20,770 shares of the company’s stock valued at $373,000 after acquiring an additional 14,658 shares in the last quarter. Mackenzie Financial Corp raised its position in Asana by 95.5% during the first quarter. Mackenzie Financial Corp now owns 8,150 shares of the company’s stock valued at $326,000 after acquiring an additional 3,981 shares in the last quarter. Evercore Wealth Management LLC purchased a new position in Asana during the first quarter valued at approximately $320,000. Pearl River Capital LLC purchased a new position in Asana during the first quarter valued at approximately $310,000. Finally, Brighton Jones LLC raised its position in Asana by 45.4% during the first quarter. Brighton Jones LLC now owns 6,361 shares of the company’s stock valued at $254,000 after acquiring an additional 1,986 shares in the last quarter. Institutional investors and hedge funds own 28.22% of the company’s stock.
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. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.
- Get a free copy of the StockNews.com research report on Asana (ASAN)
- Are Layoffs At A Small-Cap Tech A Bellwether For Housing Stocks?
- Is Costco’s Post-Earnings Price Weakness A Good Time To Buy?
- 2 Semiconductor Stocks To Watch For Reversals
- Will Crowdstrike Get A Boost From Increased EPS Guidance?
- The Institutions Hold On To Darden Restaurants International
Receive News & Ratings for Asana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asana and related companies with MarketBeat.com's FREE daily email newsletter.