Asana, Inc. (NYSE:ASAN – Get Free Report)’s share price gapped down before the market opened on Tuesday after Morgan Stanley lowered their price target on the stock from $19.00 to $15.00. The stock had previously closed at $13.53, but opened at $13.10. Morgan Stanley currently has an equal weight rating on the stock. Asana shares last traded at $13.41, with a volume of 165,936 shares.
Several other research firms have also issued reports on ASAN. UBS Group dropped their price target on shares of Asana from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Jefferies Financial Group dropped their target price on shares of Asana from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Citigroup lowered their price target on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Oppenheimer decreased their target price on Asana from $28.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Finally, HSBC raised Asana from a “reduce” rating to a “hold” rating and cut their price target for the company from $16.00 to $14.00 in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.67.
View Our Latest Stock Report on ASAN
Insider Buying and Selling at Asana
Hedge Funds Weigh In On Asana
Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Asana in the 4th quarter worth about $199,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Asana by 2.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,243 shares of the company’s stock valued at $689,000 after acquiring an additional 808 shares during the last quarter. Strs Ohio boosted its position in Asana by 142.7% in the fourth quarter. Strs Ohio now owns 21,600 shares of the company’s stock worth $410,000 after purchasing an additional 12,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Asana by 26.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,499 shares of the company’s stock valued at $371,000 after purchasing an additional 4,102 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Asana by 22.4% during the 4th quarter. New York State Common Retirement Fund now owns 37,756 shares of the company’s stock valued at $718,000 after purchasing an additional 6,904 shares during the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.
Asana Stock Down 0.3 %
The company has a market capitalization of $3.08 billion, a P/E ratio of -11.56 and a beta of 1.16. The stock has a 50 day moving average price of $13.40 and a 200 day moving average price of $15.10. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.71 and a current ratio of 1.71.
Asana (NYSE:ASAN – Get Free Report) last released its earnings results on Thursday, May 30th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The firm had revenue of $172.45 million for the quarter, compared to analysts’ expectations of $168.53 million. Equities research analysts forecast that Asana, Inc. will post -1.05 earnings per share for the current fiscal year.
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. 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.
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