Asana (NYSE:ASAN) Rating Increased to Strong-Buy at Zacks Research

Asana (NYSE:ASAN) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. DA Davidson reissued a “neutral” rating and issued a $8.00 target price on shares of Asana in a report on Friday, May 29th. Royal Bank Of Canada upped their price target on Asana from $7.00 to $8.00 and gave the company a “sector perform” rating in a research report on Friday, May 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a research note on Friday, May 8th. Piper Sandler reissued a “neutral” rating and set a $7.00 price objective (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Finally, KeyCorp reduced their target price on shares of Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.27.

Asana Stock Performance

NYSE:ASAN opened at $8.19 on Monday. The company has a 50-day moving average of $7.28 and a 200-day moving average of $7.55. Asana has a 52 week low of $5.38 and a 52 week high of $15.71. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -11.86 and a beta of 0.97.

Asana (NYSE:ASAN) last posted its quarterly earnings results 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 $205.09 million during the quarter, compared to analyst estimates of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Sell-side analysts forecast that Asana will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other Asana news, insider Katie Marie Colendich sold 5,242 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.68, for a total transaction of $35,016.56. Following the sale, the insider owned 176,598 shares of the company’s stock, valued at $1,179,674.64. This represents a 2.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel Mark Rogers sold 13,790 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $6.89, for a total transaction of $95,013.10. Following the sale, the chief executive officer directly owned 1,891,990 shares in the company, valued at approximately $13,035,811.10. This represents a 0.72% decrease in their position. 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 three months, insiders have sold 118,304 shares of company stock valued at $792,775. 61.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Asana

A number of large investors have recently modified their holdings of ASAN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Asana by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after purchasing an additional 2,328 shares during the last quarter. Empowered Funds LLC raised its position in Asana by 40.9% in the 1st quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock worth $371,000 after purchasing an additional 7,381 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Asana by 14.5% in 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 worth $3,770,000 after purchasing an additional 32,708 shares during the last quarter. American Century Companies Inc. acquired a new position in Asana during the 2nd quarter worth $158,000. Finally, Prudential Financial Inc. acquired a new position in Asana during the 2nd quarter worth $160,000. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.