Asana (NYSE:ASAN) Raised to Strong-Buy at Zacks Research

Asana (NYSE:ASAN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a research note on Friday, May 8th. Wall Street Zen cut Asana from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 12th. Citigroup restated a “market outperform” rating on shares of Asana in a report on Friday, May 29th. KeyCorp lowered their price target on Asana from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Finally, Morgan Stanley dropped their price objective on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Asana has an average rating of “Hold” and an average price target of $9.27.

Asana Stock Performance

Shares of Asana stock opened at $8.19 on Monday. Asana has a 52-week low of $5.38 and a 52-week high of $15.71. The company’s 50 day moving average price is $7.28 and its 200-day moving average price is $7.55. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -11.86 and a beta of 0.97.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $205.09 million during the quarter, compared to analysts’ expectations of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 EPS. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, equities research analysts forecast that Asana will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Asana

In related news, CFO Aziz Megji sold 31,696 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $6.66, for a total transaction of $211,095.36. Following the transaction, the chief financial officer owned 778,628 shares in the company, valued at $5,185,662.48. The trade was a 3.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Mark Rogers sold 26,975 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total transaction of $179,653.50. Following the completion of the transaction, the chief executive officer directly owned 1,905,780 shares of the company’s stock, valued at approximately $12,692,494.80. The trade was a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 118,304 shares of company stock valued at $792,775 over the last quarter. Company insiders own 61.28% of the company’s stock.

Institutional Trading of Asana

Large investors have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Asana by 37.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after acquiring an additional 1,969,657 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Asana by 705.6% in the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after purchasing an additional 1,204,232 shares during the period. Bank of America Corp DE lifted its stake in shares of 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. Goldman Sachs Group Inc. boosted its position in shares of Asana by 53.8% during the fourth 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 in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Asana by 35.1% during the fourth 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 in the last quarter. 26.21% of the stock is owned by institutional investors.

Asana Company Profile

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.