Asana (NYSE:ASAN) Shares Up 6.8% Following Earnings Beat

Asana, Inc. (NYSE:ASAN)’s share price shot up 6.8% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $6.82 and last traded at $6.8490. 515,188 shares were traded during trading, a decline of 91% from the average session volume of 5,910,379 shares. The stock had previously closed at $6.41.

The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Asana had a negative return on equity of 69.20% and a negative net margin of 20.21%.The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $203.58 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 9.5% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS.

Asana News Summary

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported first-quarter fiscal 2027 earnings and revenue that beat expectations, with EPS of $0.10 versus $0.08 expected and revenue of about $205.1 million, up 9.5% year over year. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: The company raised its outlook for Q2 and full-year fiscal 2027, with guidance coming in above Wall Street estimates, which suggests management is seeing improving momentum. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, reinforcing its push to become an AI-native workplace platform and potentially broadening future automation use cases. Asana Acquires StackAI, Adding Cross-System Execution for Human-Agent Teams
• Positive Sentiment: Several brokerages remained constructive, including Citizens JMP reiterating an outperform rating and Citigroup still rating the stock a buy, even after trimming its price target. Analyst rating updates
• Neutral Sentiment: Asana announced upcoming presentations at investor events, which could help keep the stock in focus but does not change fundamentals on its own. Asana to Present at Upcoming Investor Events
• Neutral Sentiment: Bearish analyst commentary also appeared, including Morgan Stanley cutting its target to $7 and maintaining an underweight rating, reflecting lingering concerns about valuation and growth durability. Morgan Stanley price target update

Analyst Ratings Changes

Several brokerages have issued reports on ASAN. Citigroup reissued a “market outperform” rating on shares of Asana in a research note on Friday. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a research note on Friday, May 8th. KeyCorp dropped their price target on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday. Robert W. Baird dropped their price target on Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, DA Davidson reissued a “neutral” rating and issued a $8.00 price target on shares of Asana in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.96.

Insider Buying and Selling

In related news, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $6.62, for a total transaction of $123,906.54. Following the completion of the sale, the chief financial officer owned 915,281 shares in the company, valued at approximately $6,059,160.22. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katie Marie Colendich sold 7,304 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total value of $54,195.68. Following the sale, the insider owned 108,214 shares of the company’s stock, valued at $802,947.88. This trade represents a 6.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 70,226 shares of company stock worth $472,065. 61.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Asana by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 13,173,305 shares of the company’s stock valued at $180,606,000 after purchasing an additional 48,847 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Asana by 37.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock valued at $45,979,000 after purchasing an additional 1,969,657 shares during the period. Goldman Sachs Group Inc. grew its stake in Asana by 53.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock valued at $38,277,000 after purchasing an additional 977,107 shares during the period. Marshall Wace LLP grew its stake in Asana by 35.1% in the 4th quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock valued at $36,375,000 after purchasing an additional 689,546 shares during the period. Finally, Bank of America Corp DE grew its stake in Asana by 92.6% in the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after purchasing an additional 1,075,572 shares during the period. Institutional investors own 26.21% of the company’s stock.

Asana Stock Performance

The stock has a market cap of $1.83 billion, a P/E ratio of -11.13 and a beta of 0.95. The business has a 50 day simple moving average of $6.33 and a 200-day simple moving average of $9.38.

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.