Scotiabank Issues Positive Forecast for Asana (NYSE:ASAN) Stock Price

Asana (NYSE:ASANFree Report) had its price objective raised by Scotiabank from $12.00 to $16.50 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts have also commented on ASAN. KeyCorp restated a “sector weight” rating on shares of Asana in a research note on Wednesday. Robert W. Baird increased their target price on shares of Asana from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group raised their price target on shares of Asana from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler boosted their price objective on shares of Asana from $17.00 to $19.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, DA Davidson dropped their price objective on shares of Asana from $20.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, March 11th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $15.97.

Check Out Our Latest Stock Report on Asana

Asana Price Performance

Asana stock opened at $15.13 on Wednesday. Asana has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a 50 day moving average price of $16.32 and a 200 day moving average price of $18.26. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -13.51 and a beta of 1.23.

Asana (NYSE:ASANGet Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $187.63 million during the quarter, compared to analysts’ expectations of $185.40 million. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. Sell-side analysts predict that Asana will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Asana

In related news, COO Anne Raimondi sold 18,775 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $14.03, for a total value of $263,413.25. Following the sale, the chief operating officer now directly owns 716,580 shares of the company’s stock, valued at $10,053,617.40. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justin Rosenstein sold 25,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the transaction, the director now owns 922,309 shares in the company, valued at $11,888,563.01. This trade represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 2,074,507 shares of company stock valued at $30,025,743 in the last ninety days. Insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

Institutional investors have recently modified their holdings of the stock. Barclays PLC grew its stake in Asana by 103.0% in the third quarter. Barclays PLC now owns 165,753 shares of the company’s stock worth $1,920,000 after purchasing an additional 84,114 shares in the last quarter. KBC Group NV grew its position in shares of Asana by 58.8% in the 4th quarter. KBC Group NV now owns 5,612 shares of the company’s stock worth $114,000 after acquiring an additional 2,078 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Asana in the 4th quarter worth approximately $366,000. Savant Capital LLC bought a new stake in shares of Asana in the 4th quarter valued at approximately $1,779,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Asana during the 4th quarter valued at approximately $61,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

About Asana

(Get Free Report)

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.

Further Reading

Analyst Recommendations for Asana (NYSE:ASAN)

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