Asana (NYSE:ASAN) Cut to Hold at Wall Street Zen

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

Other analysts have also issued reports about the company. Piper Sandler increased their price objective on Asana from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday. Citigroup restated a “market outperform” rating on shares of Asana in a research note on Monday, August 24th. BTIG Research reaffirmed a “neutral” rating on shares of Asana in a research report on Friday. DA Davidson raised their price target on Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Royal Bank Of Canada lifted their price target on Asana from $8.00 to $9.50 and gave the company a “sector perform” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Asana has a consensus rating of “Hold” and an average price target of $9.95.

Asana Stock Performance

ASAN stock opened at $8.81 on Friday. The firm has a 50 day simple moving average of $8.47 and a 200 day simple moving average of $7.38. Asana has a 52 week low of $5.38 and a 52 week high of $15.48. The stock has a market cap of $2.03 billion, a P/E ratio of -13.35 and a beta of 0.95.

Asana (NYSE:ASAN) last released its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $216.43 million for the quarter, compared to analyst estimates of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Sell-side analysts predict that Asana will post -0.4 EPS for the current year.

Insider Buying and Selling

In other news, insider Katie Colendich sold 5,242 shares of Asana stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $6.68, for a total value of $35,016.56. Following the transaction, the insider owned 176,598 shares of the company’s stock, valued at $1,179,674.64. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Veronica Sosa sold 11,378 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $75,777.48. Following the completion of the sale, the chief accounting officer owned 62,344 shares of the company’s stock, valued at $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,959 shares of company stock worth $809,325 over the last ninety days. Company insiders own 87.54% of the company’s stock.

Institutional Investors Weigh In On Asana

Hedge funds have recently bought and sold shares of the company. Optiver Holding B.V. increased its stake in shares of Asana by 2,008.8% in the first quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock worth $34,000 after purchasing an additional 5,002 shares during the period. Performa Ltd US LLC boosted its stake in Asana by 335.1% during the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after purchasing an additional 4,775 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Asana in the 4th quarter valued at approximately $50,000. Summit Securities Group LLC acquired a new stake in Asana in the 1st quarter valued at approximately $53,000. Finally, Daiwa Securities Group Inc. increased its position in Asana by 64.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock worth $59,000 after buying an additional 1,706 shares during the period. 26.21% of the stock is currently owned by institutional investors.

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.