Asana, Inc. (NYSE:ASAN) Receives Consensus Rating of “Hold” from Brokerages

Asana, Inc. (NYSE:ASAN) has received a consensus recommendation of “Hold” from the seventeen analysts that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $12.3214.

ASAN has been the topic of a number of recent research reports. Citigroup dropped their price target on shares of Asana from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. UBS Group reduced their target price on shares of Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Jefferies Financial Group cut their price target on shares of Asana from $15.00 to $8.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. Finally, KeyCorp lowered their price target on shares of Asana from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd.

Asana Stock Performance

Shares of ASAN stock opened at $6.63 on Wednesday. Asana has a 52-week low of $5.38 and a 52-week high of $19.00. The company has a 50-day simple moving average of $6.39 and a two-hundred day simple moving average of $9.73. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -8.28 and a beta of 0.95.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Monday, March 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $205.57 million during the quarter, compared to the consensus estimate of $205.13 million. Asana had a negative net margin of 23.90% and a negative return on equity of 77.05%. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts forecast that Asana will post -0.53 EPS for the current fiscal year.

Insider Transactions at Asana

In related news, CFO Sonalee Elizabeth Parekh sold 18,717 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were 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 directly owned 915,281 shares in the company, valued at approximately $6,059,160.22. The trade was 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 the SEC website. Also, insider Katie Marie Colendich sold 7,304 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 70,226 shares of company stock worth $472,065 over the last three months. 61.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asana

Hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in shares of Asana in the third quarter worth $27,000. Jones Financial Companies Lllp grew its holdings in shares of Asana by 137.7% in the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock worth $34,000 after purchasing an additional 1,427 shares during the last quarter. Performa Ltd US LLC grew its holdings in shares of Asana by 335.1% in the first quarter. Performa Ltd US LLC now owns 6,200 shares of the company’s stock worth $40,000 after purchasing an additional 4,775 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Asana during the 4th quarter worth about $50,000. Finally, Summit Securities Group LLC bought a new position in Asana during the 1st quarter worth about $53,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.