Asana (NYSE:ASAN) Price Target Cut to $13.00 by Analysts at KeyCorp

Asana (NYSE:ASAN) had its target price reduced by KeyCorp from $15.00 to $13.00 in a research report report published on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Robert W. Baird dropped their price target on Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Citigroup reissued a “market outperform” rating on shares of Asana in a report on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. HSBC set a $8.00 price target on Asana in a research note on Friday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $7.00 price target (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, Asana presently has an average rating of “Hold” and an average target price of $10.96.

Asana Price Performance

Shares of NYSE:ASAN opened at $7.68 on Friday. The business has a fifty 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 PE ratio of -11.13 and a beta of 0.95. Asana has a 1-year low of $5.38 and a 1-year high of $19.00.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $205.10 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous 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, sell-side analysts anticipate that Asana will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In related news, insider Katie Marie Colendich sold 7,304 shares of Asana stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the transaction, the insider directly owned 108,214 shares of the company’s stock, valued at approximately $802,947.88. The trade was a 6.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the stock in a transaction dated Friday, March 20th. The stock was 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 $6,211,086.70. This trade represents a 3.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 70,226 shares of company stock worth $472,065 over the last quarter. Insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

A number of hedge funds and other institutional investors have recently made changes to their positions in ASAN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Asana by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock worth $707,000 after purchasing an additional 2,328 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Asana by 40.9% during the first quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock valued at $371,000 after acquiring an additional 7,381 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Asana by 14.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company’s stock valued at $3,770,000 after purchasing an additional 32,708 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Asana in the 2nd quarter valued at approximately $158,000. Finally, Prudential Financial Inc. acquired a new stake in Asana in the 2nd quarter worth approximately $160,000. Institutional investors own 26.21% of the company’s stock.

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.