Asana (NYSE:ASAN) Announces Earnings Results

Asana (NYSE:ASAN) posted its earnings results on Monday. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.21), Zacks reports. The firm had revenue of $188.30 million during the quarter, compared to the consensus estimate of $188.13 million. Asana had a negative return on equity of 86.84% and a negative net margin of 36.17%. Asana’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS.

Asana Stock Performance

ASAN traded down $1.56 during trading on Monday, hitting $16.69. The stock had a trading volume of 7,920,284 shares, compared to its average volume of 2,498,406. The firm has a market cap of $3.82 billion, a PE ratio of -14.90 and a beta of 1.13. The company has a 50 day simple moving average of $20.63 and a 200-day simple moving average of $16.85. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. Asana has a 12 month low of $11.05 and a 12 month high of $27.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. DA Davidson increased their price objective on Asana from $13.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Jefferies Financial Group raised their price target on Asana from $16.00 to $19.00 and gave the company a “hold” rating in a report on Monday, January 6th. JMP Securities upped their price objective on shares of Asana from $21.00 to $25.00 and gave the stock a “market outperform” rating in a report on Friday, December 6th. Morgan Stanley upped their target price on Asana from $14.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, 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 report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.73.

Insiders Place Their Bets

In other Asana news, Director Justin Rosenstein sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the completion of the transaction, the director now owns 1,097,309 shares of the company’s stock, valued at $21,682,825.84. This represents a 12.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Anne Raimondi sold 27,233 shares of Asana stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.71, for a total value of $591,228.43. Following the sale, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. The trade was a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 723,300 shares of company stock valued at $15,161,068 in the last three months. Company insiders own 63.97% 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.