Morgan Stanley Lowers Asana (NYSE:ASAN) Price Target to $7.00

Asana (NYSE:ASAN) had its price objective reduced by investment analysts at Morgan Stanley from $8.00 to $7.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 6.85% from the company’s previous close.

Several other equities analysts have also recently issued reports on ASAN. KeyCorp reduced their price objective on Asana from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. HSBC set a $8.00 price objective on Asana in a report on Friday, February 13th. Wall Street Zen cut Asana from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 19th. Jefferies Financial Group cut their price target on Asana from $15.00 to $8.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Asana in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.25.

Asana Stock Performance

ASAN stock traded up $0.86 during midday trading on Friday, hitting $7.52. 7,047,076 shares of the stock were exchanged, compared to its average volume of 6,015,096. The stock’s 50-day moving average price is $6.31 and its 200-day moving average price is $9.39. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -9.36 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.

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

Insider Activity

In other news, CFO Sonalee Elizabeth Parekh sold 18,717 shares of Asana stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $6.62, for a total value of $123,906.54. Following the completion of the sale, the chief financial officer owned 915,281 shares of the company’s stock, valued at $6,059,160.22. The trade was a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Veronica Sosa sold 6,479 shares of Asana stock in a transaction on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $43,085.35. Following the completion of the sale, the chief accounting officer directly owned 73,722 shares of the company’s stock, valued at approximately $490,251.30. This represents a 8.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 70,226 shares of company stock valued at $472,065 over the last quarter. Company insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Asana by 0.4% in the fourth 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 grew its position in shares of Asana by 37.8% in the first 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. grew its position in shares of Asana by 53.8% in the fourth 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 grew its position in Asana by 35.1% during the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock valued at $36,375,000 after acquiring an additional 689,546 shares during the period. Finally, Bank of America Corp DE grew its position in Asana by 92.6% during the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after acquiring an additional 1,075,572 shares during the period. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Key Stories Impacting Asana

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

About Asana

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.