Citigroup Lowers Asana (NYSE:ASAN) Price Target to $13.00

Asana (NYSE:ASAN) had its target price lowered by investment analysts at Citigroup from $16.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 68.18% from the stock’s previous close.

A number of other research firms have also recently commented on ASAN. DA Davidson lowered their price target on Asana from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. UBS Group lowered 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, December 3rd. Morgan Stanley dropped their target price on shares of Asana from $14.00 to $8.00 and set an “underweight” rating for the company in a report on Tuesday. Wall Street Zen raised shares of Asana from a “hold” rating to a “buy” rating in a report on Sunday, January 11th. Finally, Piper Sandler lowered their price objective on shares of Asana from $14.00 to $9.00 and set an “overweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Asana has a consensus rating of “Hold” and a consensus price target of $12.46.

Asana Price Performance

ASAN stock opened at $7.73 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. Asana has a 12 month low of $6.51 and a 12 month high of $19.12. The firm has a market cap of $1.83 billion, a P/E ratio of -9.66 and a beta of 1.01. The company’s 50-day moving average price is $10.17 and its two-hundred day moving average price is $12.54.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Monday, March 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.01. Asana had a negative net margin of 23.90% and a negative return on equity of 71.50%. The business had revenue of $205.57 million for the quarter, compared to analyst estimates of $205.13 million. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Asana will post -1.09 earnings per share for the current fiscal year.

Insider Activity at Asana

In other news, Director Justin Rosenstein sold 850,233 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $15.12, for a total transaction of $12,855,522.96. Following the completion of the transaction, the director owned 210,398 shares of the company’s stock, valued at approximately $3,181,217.76. This trade represents a 80.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anne Raimondi sold 76,093 shares of Asana stock in a transaction on Friday, December 19th. The stock was sold at an average price of $14.47, for a total transaction of $1,101,065.71. Following the transaction, the chief operating officer owned 764,178 shares in the company, valued at approximately $11,057,655.66. This trade represents a 9.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,127,448 shares of company stock worth $16,825,400 in the last quarter. 61.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in shares of Asana in the 3rd quarter valued at about $27,000. Farther Finance Advisors LLC raised its position in shares of Asana by 119.7% during the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock worth $34,000 after acquiring an additional 1,391 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Asana by 137.7% in the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock worth $34,000 after acquiring an additional 1,427 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Asana in the fourth quarter valued at approximately $50,000. Finally, Daiwa Securities Group Inc. increased its position in Asana by 64.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after purchasing an additional 1,706 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Asana

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Q4 results beat on EPS, revenue growth and operating swing to profit — Asana reported a $0.08 EPS (vs. $0.07 consensus), revenue grew ~9% year‑over‑year and operating income swung toward profitability, supporting the stock move higher. Read More.
• Positive Sentiment: FY‑27 revenue target and AI focus — Management outlined a FY‑27 revenue target of up to $858M and emphasized expansion of its AI platform, which supports medium‑term revenue growth potential if adoption accelerates. Read More.
• Positive Sentiment: New CFO named — Asana has appointed Megji as CFO, which reduces near‑term leadership uncertainty after the prior CFO’s exit. Management highlighted continuity plans. Read More.
• Neutral Sentiment: Guidance largely in line but revenue a touch soft — Q1 EPS guidance (0.070–0.080) and FY‑27 EPS (0.360–0.370) were essentially in line with consensus, while FY revenue and Q1 revenue ranges were at or just below street estimates — a mixed read for near‑term top‑line growth. Read More.
• Negative Sentiment: CFO turnover — The outgoing CFO resigned after under two years, raising governance and execution concerns until the new CFO is fully integrated. Read More.
• Negative Sentiment: Multiple analyst price‑target cuts and downgrades — Several firms (UBS, Morgan Stanley, RBC, Piper Sandler, Robert W. Baird and others) have trimmed targets and lowered ratings this week, reflecting skepticism on Asana’s growth trajectory and fueling selling pressure. Read More.

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.