KeyCorp Has Lowered Expectations for Asana (NYSE:ASAN) Stock Price

Asana (NYSE:ASAN) had its price target dropped by equities researchers at KeyCorp from $15.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s target price suggests a potential upside of 71.30% from the company’s previous close.

Several other research firms have also weighed in on ASAN. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Asana in a research report on Friday. Piper Sandler reaffirmed a “neutral” rating and set a $7.00 price target (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. HSBC set a $8.00 price target on Asana in a research report on Friday, February 13th. Citigroup reaffirmed a “market outperform” rating on shares of Asana in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.11.

Asana Trading Up 13.9%

Shares of NYSE:ASAN traded up $0.93 during trading on Friday, hitting $7.59. 7,621,500 shares of the company were exchanged, compared to its average volume of 6,025,660. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -9.43 and a beta of 0.95. Asana has a fifty-two week low of $5.38 and a fifty-two week high of $19.00. The firm has a fifty day moving average price of $6.31 and a two-hundred day moving average price of $9.39.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $203.58 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.05 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, research analysts predict that Asana will post -0.53 EPS for the current year.

Insider Buying and Selling

In related news, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $6.65, for a total transaction of $227,104.15. Following the transaction, the chief financial officer directly owned 933,998 shares of the company’s stock, valued at approximately $6,211,086.70. The trade was a 3.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katie Marie Colendich sold 7,304 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total value of $54,195.68. Following the completion of the sale, the insider owned 108,214 shares of the company’s stock, valued at $802,947.88. This trade represents a 6.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 70,226 shares of company stock valued at $472,065. 61.28% of the stock is owned by insiders.

Institutional Trading of Asana

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Asana by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company’s stock valued at $180,606,000 after purchasing an additional 48,847 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Asana by 37.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after purchasing an additional 1,969,657 shares during the period. Goldman Sachs Group Inc. boosted its stake in Asana by 53.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after purchasing an additional 977,107 shares during the period. Marshall Wace LLP boosted its stake in Asana by 35.1% in the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock valued at $36,375,000 after purchasing an additional 689,546 shares during the period. Finally, Bank of America Corp DE boosted its stake in Asana by 92.6% in the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after purchasing an additional 1,075,572 shares during the period. 26.21% of the stock is currently owned by institutional investors.

Key Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana beat first-quarter fiscal 2027 earnings and revenue estimates, reporting $0.10 EPS on $205.1 million in revenue, with revenue up 9.5% year over year. Article Title
• Positive Sentiment: Management also raised guidance, with Q2 and full-year EPS outlooks above Wall Street expectations, signaling improving profitability and encouraging investors. Article Title
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, which could strengthen its product offering and support longer-term growth in enterprise automation. Article Title
• Positive Sentiment: Investors also viewed improving operating cash flow and margin progress as signs that Asana is making progress on financial discipline, even though the business remains unprofitable. Article Title
• Neutral Sentiment: An investor note said the stock remains challenged by sub-100% net retention and a still-elevated share price decline over the longer term, keeping some analysts cautious despite the strong quarter. Article Title
• Negative Sentiment: Some coverage highlighted that the company is still posting losses and that insider selling has been ongoing, which may temper enthusiasm for the rally. Article Title

Asana Company Profile

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.