Asana, Inc. (NYSE:ASAN) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Asana, Inc. (NYSE:ASAN) have earned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.95.

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Asana from $8.00 to $9.50 and gave the company a “sector perform” rating in a research report on Friday, September 4th. Piper Sandler upped their target price on Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, September 4th. UBS Group increased their price target on Asana from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Robert W. Baird raised their price target on Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Asana in a research note on Wednesday, August 5th.

Asana Stock Performance

NYSE ASAN opened at $9.04 on Tuesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -13.70 and a beta of 0.95. The company’s 50-day simple moving average is $8.98 and its two-hundred day simple moving average is $7.56. Asana has a one year low of $5.38 and a one year high of $15.48.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm had revenue of $216.43 million during the quarter, compared to analysts’ expectations of $214.15 million. During the same quarter in the prior year, the company earned $0.06 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. Equities analysts expect that Asana will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Asana

In other news, insider Katie Colendich sold 8,474 shares of the company’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $9.77, for a total value of $82,790.98. Following the sale, the insider directly owned 161,689 shares of the company’s stock, valued at $1,579,701.53. This represents a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aziz Megji sold 3,224 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $9.26, for a total transaction of $29,854.24. Following the completion of the sale, the chief financial officer owned 726,721 shares in the company, valued at $6,729,436.46. The trade was a 0.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 521,135 shares of company stock worth $4,871,882. Company insiders own 87.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. increased its stake in shares of Asana by 2,008.8% in the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after purchasing an additional 5,002 shares in the last quarter. Performa Ltd US LLC boosted its position in Asana by 335.1% during 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 in the last quarter. Summit Securities Group LLC purchased a new position in Asana during the first quarter worth approximately $53,000. HB Wealth Management LLC purchased a new position in shares of Asana during the 2nd quarter valued at approximately $71,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Asana during the second quarter valued at $88,000. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana’s products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.