Asana (NYSE:ASAN) Price Target Cut to $11.00 by Analysts at Citigroup

Asana (NYSE:ASAN) had its price objective lowered by Citigroup from $13.00 to $11.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. DA Davidson reiterated a “neutral” rating and set a $8.00 price objective on shares of Asana in a research note on Friday. UBS Group restated a “neutral” rating and set a $8.00 target price on shares of Asana in a report on Friday. Jefferies Financial Group dropped their target price on Asana from $15.00 to $8.00 and set a “hold” rating on the stock in a research report on Monday, February 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a report on Friday, May 8th. Finally, Morgan Stanley decreased their price objective on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.96.

Asana Price Performance

ASAN stock opened at $7.68 on Friday. Asana has a 1-year low of $5.38 and a 1-year high of $19.00. The business has a 50-day moving average price of $6.33 and a 200 day moving average price of $9.38. The company has a market capitalization of $1.83 billion, a P/E ratio of -11.13 and a beta of 0.95.

Asana (NYSE:ASAN) last issued its 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 company had revenue of $205.10 million for the quarter, compared to analysts’ expectations of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 69.20%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, analysts anticipate that Asana will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asana news, CFO Sonalee Elizabeth Parekh sold 34,151 shares of Asana stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.65, for a total transaction of $227,104.15. Following the completion of the sale, the chief financial officer directly owned 933,998 shares in the company, valued at approximately $6,211,086.70. The trade was a 3.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Katie Marie Colendich sold 7,304 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the sale, the insider owned 108,214 shares in the company, valued at $802,947.88. The trade was a 6.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 70,226 shares of company stock valued at $472,065. 61.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its holdings in shares of Asana by 1,162.2% in the 3rd quarter. Federated Hermes Inc. now owns 413,331 shares of the company’s stock valued at $5,522,000 after buying an additional 380,583 shares during the period. Blue Trust Inc. grew its holdings in Asana by 7.2% during the fourth quarter. Blue Trust Inc. now owns 29,599 shares of the company’s stock worth $406,000 after acquiring an additional 1,993 shares during the period. Archford Capital Strategies LLC purchased a new position in Asana during the fourth quarter valued at approximately $411,000. Diversified Trust Co. raised its position in Asana by 12.4% during the fourth quarter. Diversified Trust Co. now owns 16,468 shares of the company’s stock valued at $226,000 after acquiring an additional 1,822 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in Asana by 6.8% in the fourth quarter. 180 Wealth Advisors LLC now owns 12,489 shares of the company’s stock valued at $171,000 after acquiring an additional 798 shares during the period. 26.21% of the stock is owned by institutional investors and hedge funds.

Key Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported first-quarter fiscal 2027 earnings and revenue that beat expectations, with EPS of $0.10 versus $0.08 expected and revenue of about $205.1 million, up 9.5% year over year. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: The company raised its outlook for Q2 and full-year fiscal 2027, with guidance coming in above Wall Street estimates, which suggests management is seeing improving momentum. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, reinforcing its push to become an AI-native workplace platform and potentially broadening future automation use cases. Asana Acquires StackAI, Adding Cross-System Execution for Human-Agent Teams
• Positive Sentiment: Several brokerages remained constructive, including Citizens JMP reiterating an outperform rating and Citigroup still rating the stock a buy, even after trimming its price target. Analyst rating updates
• Neutral Sentiment: Asana announced upcoming presentations at investor events, which could help keep the stock in focus but does not change fundamentals on its own. Asana to Present at Upcoming Investor Events
• Neutral Sentiment: Bearish analyst commentary also appeared, including Morgan Stanley cutting its target to $7 and maintaining an underweight rating, reflecting lingering concerns about valuation and growth durability. Morgan Stanley price target update

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.