Asana (NYSE:ASAN) Price Target Cut to $7.00 by Analysts at Morgan Stanley

Asana (NYSE:ASAN) had its price target reduced by Morgan Stanley from $8.00 to $7.00 in a research report sent to investors on Friday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

A number of other brokerages also recently commented on ASAN. Robert W. Baird decreased their target price on Asana from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. UBS Group dropped their price target on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Citigroup reiterated a “market outperform” rating on shares of Asana in a research report on Friday. Jefferies Financial Group cut their price target on shares of Asana from $15.00 to $8.00 and set a “hold” rating for the company in a report on Monday, February 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Asana presently has an average rating of “Hold” and an average price target of $10.96.

Asana Trading Up 15.3%

ASAN stock opened at $7.68 on Friday. The stock’s 50 day simple moving average is $6.33 and its 200 day simple moving average is $9.38. Asana has a 12-month low of $5.38 and a 12-month high of $19.00. The firm has a market cap of $1.83 billion, a P/E ratio of -11.13 and a beta of 0.95.

Asana (NYSE:ASAN) last released its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. 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, research analysts forecast that Asana will post -0.53 EPS for the current fiscal year.

Insider Activity at Asana

In related news, CAO Veronica Sosa sold 6,479 shares of the business’s 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 $43,085.35. Following the transaction, the chief accounting officer directly owned 73,722 shares of the company’s stock, valued at approximately $490,251.30. The trade was a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 34,151 shares of the company’s stock in a transaction on 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 transaction, 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. Over the last three months, insiders have sold 70,226 shares of company stock valued at $472,065. Corporate insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

Several institutional investors have recently bought and sold shares of ASAN. Federated Hermes Inc. lifted its holdings in Asana by 1,162.2% in the 3rd quarter. Federated Hermes Inc. now owns 413,331 shares of the company’s stock worth $5,522,000 after purchasing an additional 380,583 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Asana in the fourth quarter valued at approximately $230,000. SG Americas Securities LLC raised its position in shares of Asana by 58.4% in the fourth quarter. SG Americas Securities LLC now owns 65,810 shares of the company’s stock valued at $902,000 after purchasing an additional 24,261 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Asana by 25.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 36,024 shares of the company’s stock worth $494,000 after buying an additional 7,204 shares during the last quarter. Finally, Diversified Trust Co. lifted its stake in shares of Asana by 12.4% in the fourth quarter. Diversified Trust Co. now owns 16,468 shares of the company’s stock worth $226,000 after buying an additional 1,822 shares during the last quarter. 26.21% of the stock is currently owned by institutional investors.

Trending Headlines about Asana

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.