Asana (NYSE:ASAN) Price Target Raised to $22.00

Asana (NYSE:ASAN) had its price target raised by investment analysts at Oppenheimer from $20.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price would indicate a potential upside of 4.31% from the company’s current price.

Several other equities analysts have also commented on the company. KeyCorp upgraded Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target on the stock in a research note on Friday. JMP Securities upped their price objective on Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a research note on Friday. Bank of America reduced their target price on shares of Asana from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. UBS Group lowered their price target on shares of Asana from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, Citigroup reduced their price objective on shares of Asana from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.67.

Asana Trading Up 36.4 %

Shares of NYSE:ASAN traded up $5.63 on Friday, hitting $21.09. 10,114,570 shares of the company’s stock were exchanged, compared to its average volume of 2,025,278. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of -18.35 and a beta of 1.22. Asana has a 12 month low of $11.05 and a 12 month high of $21.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The business’s 50 day simple moving average is $13.17 and its two-hundred day simple moving average is $13.25.

Asana (NYSE:ASAN) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $179.21 million during the quarter, compared to analysts’ expectations of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.31) EPS. Analysts anticipate that Asana will post -1.14 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other Asana news, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at approximately $4,499,966.90. The trade was a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $11.99, for a total transaction of $357,385.93. Following the completion of the sale, the chief operating officer now directly owns 761,088 shares in the company, valued at $9,125,445.12. This trade represents a 3.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,092 shares of company stock worth $527,668. 63.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Asana

Several institutional investors and hedge funds have recently modified their holdings of ASAN. Headlands Technologies LLC lifted its holdings in Asana by 327.9% in the second quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the period. KBC Group NV increased its holdings in shares of Asana by 52.1% during the 3rd quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after purchasing an additional 1,211 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Asana in the 3rd quarter valued at $43,000. Redwood Wealth Management Group LLC acquired a new position in shares of Asana in the 2nd quarter valued at $65,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Asana by 26.0% during the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock worth $70,000 after buying an additional 1,028 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.