Citigroup Issues Pessimistic Forecast for Asana (NYSE:ASAN) Stock Price

Asana (NYSE:ASAN) had its target price reduced by Citigroup from $17.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 13.23% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of Asana from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. Wall Street Zen lowered shares of Asana from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research report on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating and set a $19.00 price target on shares of Asana in a report on Thursday, September 4th. Finally, UBS Group dropped their target price on Asana from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Asana presently has a consensus rating of “Hold” and a consensus price target of $16.17.

Asana Stock Down 2.1%

Shares of ASAN opened at $14.13 on Wednesday. The stock has a market capitalization of $3.34 billion, a PE ratio of -15.19 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.41 and a current ratio of 1.40. Asana has a 1 year low of $11.58 and a 1 year high of $27.77. The company’s 50-day simple moving average is $13.54 and its 200-day simple moving average is $14.20.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Asana had a negative return on equity of 79.80% and a negative net margin of 28.33%.The company had revenue of $201.03 million for the quarter, compared to analysts’ expectations of $198.78 million. During the same period last year, the firm earned ($0.02) earnings per share. Asana’s quarterly revenue was up 9.3% on a year-over-year basis. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. Analysts forecast that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Transactions at Asana

In other Asana news, Director Justin Rosenstein sold 1,199,560 shares of the company’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $15.23, for a total transaction of $18,269,298.80. Following the sale, the director owned 1,555,925 shares in the company, valued at $23,696,737.75. This represents a 43.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sonalee Elizabeth Parekh sold 194,976 shares of Asana stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $14.17, for a total value of $2,762,809.92. Following the completion of the transaction, the chief financial officer owned 1,140,067 shares of the company’s stock, valued at approximately $16,154,749.39. The trade was a 14.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,427,928 shares of company stock valued at $36,497,981. Insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

Several institutional investors and hedge funds have recently made changes to their positions in ASAN. Landscape Capital Management L.L.C. acquired a new position in shares of Asana during the first quarter valued at $1,148,000. Vanguard Group Inc. lifted its position in Asana by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 10,656,214 shares of the company’s stock valued at $155,261,000 after purchasing an additional 475,100 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Asana by 6.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 742,272 shares of the company’s stock valued at $10,815,000 after purchasing an additional 47,480 shares during the period. Acadian Asset Management LLC boosted its stake in Asana by 8,850.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,164,378 shares of the company’s stock valued at $16,950,000 after purchasing an additional 1,151,369 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Asana by 146.6% in the 1st quarter. Russell Investments Group Ltd. now owns 117,982 shares of the company’s stock worth $1,727,000 after purchasing an additional 70,145 shares during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

About Asana

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.