Citizens Jmp Reiterates Market Outperform Rating for Asana (NYSE:ASAN)

Asana (NYSE:ASAN)‘s stock had its “market outperform” rating reaffirmed by stock analysts at Citizens Jmp in a research note issued to investors on Friday, Benzinga reports. They presently have a $15.00 target price on the stock. Citizens Jmp’s price objective indicates a potential upside of 68.58% from the company’s current price.

Several other equities analysts also recently commented on ASAN. Robert W. Baird set a $10.00 price objective on Asana in a research report on Friday. Citigroup reissued a “market outperform” rating on shares of Asana in a research report on Monday, August 24th. Barclays lowered shares of Asana to an “outperform” rating in a research report on Monday, August 24th. Morgan Stanley lowered their price target on Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Friday, May 29th. Finally, KeyCorp reduced their price objective on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.55.

Asana Stock Down 11.8%

Shares of NYSE:ASAN opened at $8.90 on Friday. Asana has a 52 week low of $5.38 and a 52 week high of $15.48. The firm has a fifty day simple moving average of $8.40 and a two-hundred day simple moving average of $7.36. The stock has a market capitalization of $2.05 billion, a P/E ratio of -12.56 and a beta of 0.95.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. Asana’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, analysts expect that Asana will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other Asana news, CAO Veronica Sosa sold 11,378 shares of Asana stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $6.66, for a total value of $75,777.48. Following the transaction, the chief accounting officer owned 62,344 shares in the company, valued at $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katie Colendich sold 5,242 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $6.68, for a total transaction of $35,016.56. Following the sale, the insider directly owned 176,598 shares of the company’s stock, valued at approximately $1,179,674.64. The trade was a 2.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 119,959 shares of company stock valued at $809,325. Company insiders own 87.54% of the company’s stock.

Institutional Trading of Asana

Large investors have recently bought and sold shares of the stock. Vident Advisory LLC raised its holdings in shares of Asana by 4.3% in the third quarter. Vident Advisory LLC now owns 22,527 shares of the company’s stock worth $301,000 after buying an additional 930 shares during the last quarter. ProShare Advisors LLC grew its stake in Asana by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 16,412 shares of the company’s stock valued at $225,000 after purchasing an additional 1,188 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after purchasing an additional 1,706 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Asana by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after purchasing an additional 2,328 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Asana by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 52,327 shares of the company’s stock worth $706,000 after purchasing an additional 2,373 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Key Asana News

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported fiscal Q2 adjusted EPS of $0.10, above the $0.09 consensus estimate, while revenue of $216.4 million exceeded expectations of $214.2 million and increased 9.9% year over year. Asana Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management forecast fiscal 2027 EPS of $0.37, well above the $0.22 analyst consensus, and projected revenue of $858.5 million to $863.5 million, broadly in line with expectations. Asana also plans to roll out its Agentic Work Management offering in mid-September. Asana Forecasts Fiscal 2027 Revenue and Agentic Work Management Launch
• Neutral Sentiment: Piper Sandler raised its price target from $7 to $9 but maintained a neutral rating, implying roughly 10.4% downside from the referenced $10.05 price. BTIG Research also reaffirmed its neutral rating, indicating limited analyst conviction despite the higher target.
• Negative Sentiment: Asana’s fiscal Q3 revenue guidance of $217 million to $219 million was slightly below the $218.2 million consensus at the midpoint. Although projected EPS of $0.08 exceeded the $0.05 consensus, investors appeared more concerned about the pace of revenue growth and the company’s ongoing negative profitability metrics. Shares fell in extended trading following the report. Asana Stock Falls as Q3 Outlook Disappoints

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.