Asana (NYSE:ASAN) Receives “Market Outperform” Rating from Citizens Jmp

Asana (NYSE:ASAN)‘s stock had its “market outperform” rating reissued by equities researchers at Citizens Jmp in a research note issued on Tuesday,Benzinga reports. They currently have a $15.00 target price on the stock. Citizens Jmp’s target price would indicate a potential upside of 107.56% from the company’s previous close.

Several other brokerages have also recently commented on ASAN. DA Davidson reiterated a “neutral” rating and set a $8.00 price target on shares of Asana in a research report on Friday, May 29th. Wall Street Zen upgraded Asana from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 13th. KeyCorp decreased their price objective on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Royal Bank Of Canada lifted their target price on shares of Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $7.00 target price (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Three research 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.27.

Asana Trading Down 1.5%

Shares of Asana stock opened at $7.23 on Tuesday. Asana has a twelve month low of $5.38 and a twelve month high of $15.71. The firm has a market capitalization of $1.67 billion, a PE ratio of -10.47 and a beta of 0.97. The firm’s 50-day moving average price is $6.96 and its 200 day moving average price is $8.27.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 $205.09 million during the quarter, compared to analyst estimates of $203.58 million. During the same period in the previous year, the business earned $0.05 EPS. Asana’s quarterly revenue was up 9.5% on a year-over-year basis. 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 predict that Asana will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Asana news, CEO Daniel Mark Rogers sold 13,790 shares of Asana stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $6.89, for a total value of $95,013.10. Following the sale, the chief executive officer owned 1,891,990 shares in the company, valued at $13,035,811.10. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Marie Colendich sold 5,242 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.68, for a total value of $35,016.56. Following the completion of the transaction, the insider directly owned 176,598 shares in the company, valued at approximately $1,179,674.64. This trade represents a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 118,304 shares of company stock worth $792,775 over the last ninety days. Company insiders own 61.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Asana during the third quarter valued at about $27,000. Optiver Holding B.V. raised its stake in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after acquiring an additional 5,002 shares during the period. Performa Ltd US LLC raised its stake in shares of Asana by 335.1% in the 1st quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock valued at $40,000 after acquiring an additional 4,775 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Asana in the 4th quarter worth approximately $50,000. Finally, Summit Securities Group LLC acquired a new position in shares of Asana in the 1st quarter worth approximately $53,000. 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.