Asana (NYSE:ASAN) Releases Q2 2022 Earnings Guidance

Asana (NYSE:ASAN) updated its second quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $-0.270–0.260 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.270. The company issued revenue guidance of $81 million-83 million, compared to the consensus revenue estimate of $74.07 million.Asana also updated its FY 2022 guidance to $- EPS.

Shares of NYSE:ASAN traded up $4.79 during trading on Thursday, hitting $45.94. 5,462,541 shares of the company were exchanged, compared to its average volume of 1,442,224. The firm has a market cap of $7.49 billion and a P/E ratio of -31.04. The firm’s 50 day moving average is $33.67. Asana has a 52-week low of $20.57 and a 52-week high of $46.21.

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

A number of brokerages have commented on ASAN. Credit Suisse Group upped their target price on shares of Asana from $32.00 to $35.00 and gave the stock a neutral rating in a research note on Thursday, March 11th. Zacks Investment Research cut shares of Asana from a hold rating to a sell rating in a research report on Wednesday. Jefferies Financial Group decreased their price target on shares of Asana from $40.00 to $35.00 and set a buy rating for the company in a report on Tuesday, May 18th. They noted that the move was a valuation call. Royal Bank of Canada raised their price target on shares of Asana from $39.00 to $45.00 and gave the stock an outperform rating in a report on Friday, June 4th. Finally, Robert W. Baird raised their price target on shares of Asana from $40.00 to $50.00 and gave the stock an outperform rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Asana has an average rating of Buy and an average price target of $38.54.

In related news, COO Chris Farinacci sold 26,072 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $29.50, for a total transaction of $769,124.00. Following the sale, the chief operating officer now owns 315,072 shares in the company, valued at $9,294,624. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dustin A. Moskovitz purchased 250,000 shares of the company’s stock in a transaction that occurred 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 owns 836,561 shares of the company’s stock, valued at approximately $33,203,106.09. The disclosure for this purchase can be found here. In the last three months, insiders have sold 159,716 shares of company stock valued at $5,270,142. 54.43% of the stock is currently 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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