Asana (NYSE:ASAN) Upgraded at Wall Street Zen

Asana (NYSE:ASAN) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other analysts also recently commented on ASAN. Robert W. Baird decreased their price objective on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. UBS Group restated a “neutral” rating and issued a $8.00 price target on shares of Asana in a report on Friday, May 29th. Piper Sandler reaffirmed a “neutral” rating and set a $7.00 price objective (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. DA Davidson reiterated a “neutral” rating and set a $8.00 target price on shares of Asana in a research report on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.27.

Asana Stock Performance

Asana stock opened at $7.41 on Friday. Asana has a one year low of $5.38 and a one year high of $15.71. The business has a fifty day moving average of $6.65 and a two-hundred day moving average of $9.05. The company has a market cap of $1.71 billion, a P/E ratio of -10.73 and a beta of 1.02.

Asana (NYSE:ASAN) last released its earnings results on Thursday, May 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $203.58 million. During the same quarter last year, the company earned $0.05 earnings per share. Asana’s quarterly revenue was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. Sell-side analysts predict that Asana will post -0.4 EPS for the current year.

Insider Activity

In other Asana news, CAO Veronica Sosa sold 6,479 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $43,085.35. Following the sale, the chief accounting officer owned 73,722 shares of the company’s stock, valued at $490,251.30. This represents a 8.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $6.62, for a total transaction of $123,906.54. Following the completion of the sale, the chief financial officer directly owned 915,281 shares in the company, valued at $6,059,160.22. This trade represents a 2.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 62,922 shares of company stock worth $417,870 in the last ninety days. Insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently modified their holdings of the company. Optiver Holding B.V. lifted its stake in shares of Asana by 2,008.8% during the first quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after buying an additional 5,002 shares during the period. Bank of America Corp DE lifted its stake in shares of Asana by 92.6% during the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after buying an additional 1,075,572 shares during the period. Royal Bank of Canada lifted its stake in shares of Asana by 2,925.2% during the first quarter. Royal Bank of Canada now owns 180,634 shares of the company’s stock valued at $1,157,000 after buying an additional 174,663 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Asana by 206.4% during the first quarter. Quantinno Capital Management LP now owns 158,588 shares of the company’s stock valued at $1,015,000 after buying an additional 106,836 shares during the period. Finally, SummitTX Capital L.P. purchased a new position in shares of Asana during the first quarter valued at approximately $229,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.