Asana (NYSE:ASAN) Releases FY 2022 Earnings Guidance

Asana (NYSE:ASAN) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $- for the period. The company issued revenue guidance of $336 million-340 million, compared to the consensus revenue estimate of $312.24 million.Asana also updated its Q2 2022 guidance to $-0.270–0.260 EPS.

A number of analysts recently issued reports on the company. KeyCorp lifted their target price on Asana from $40.00 to $48.00 and gave the company an overweight rating in a research report on Friday, June 4th. JMP Securities upped their price objective on Asana from $40.00 to $50.00 and gave the stock a market outperform rating in a research note on Friday, June 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded Asana from a hold rating to a sell rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of Asana from $34.00 to $37.00 and gave the stock an equal weight rating in a report on Friday, June 4th. Finally, Wolfe Research started coverage on shares of Asana in a research note on Wednesday, April 28th. They issued an outperform rating and a $40.00 price target for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Asana presently has an average rating of Buy and an average target price of $38.54.

Shares of NYSE ASAN traded up $4.79 during mid-day trading on Thursday, reaching $45.94. 5,462,541 shares of the company were exchanged, compared to its average volume of 1,442,224. The company has a market capitalization of $7.49 billion and a PE ratio of -31.04. The firm’s 50-day moving average is $33.67. Asana has a twelve month low of $20.57 and a twelve month high of $46.21.

Asana (NYSE:ASAN) last released its quarterly earnings results on Wednesday, June 2nd. The company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. The company had revenue of $76.67 million during the quarter, compared to the consensus estimate of $70.14 million. During the same period in the prior year, the company earned ($0.31) earnings per share. The firm’s revenue was up 60.7% compared to the same quarter last year. On average, sell-side analysts forecast that Asana will post -1.4 earnings per share for the current year.

In other Asana news, CEO Dustin A. Moskovitz bought 250,000 shares of the firm’s stock in a transaction on Monday, June 7th. The shares were purchased at an average price of $39.69 per share, for a total transaction of $9,922,500.00. Following the transaction, the chief executive officer now directly owns 836,561 shares in the company, valued at approximately $33,203,106.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Chris Farinacci sold 26,072 shares of the firm’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $29.50, for a total transaction of $769,124.00. Following the transaction, the chief operating officer now directly owns 315,072 shares in the company, valued at $9,294,624. The disclosure for this sale can be found here. In the last quarter, insiders have sold 159,716 shares of company stock worth $5,270,142. 54.43% of the stock is owned by corporate insiders.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

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Earnings History and Estimates for Asana (NYSE:ASAN)

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