Asana (NYSE:ASAN) Raised to “Buy” at Wall Street Zen

Asana (NYSE:ASAN) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

ASAN has been the subject of a number of other research reports. DA Davidson upped their price objective on shares of Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Royal Bank Of Canada lifted their price target on Asana from $8.00 to $9.50 and gave the company a “sector perform” rating in a research note on Friday, September 4th. Zacks Research cut Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Robert W. Baird increased their price target on Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Finally, Barclays lowered Asana to an “outperform” rating in a report on Monday, August 24th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.95.

Asana Trading Up 6.0%

Asana stock opened at $9.13 on Friday. The firm has a market cap of $2.09 billion, a PE ratio of -13.84 and a beta of 1.19. Asana has a 12 month low of $5.38 and a 12 month high of $15.48. The stock’s 50 day simple moving average is $9.16 and its two-hundred day simple moving average is $7.63.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, beating 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 analyst estimates of $214.15 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. 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, equities research analysts forecast that Asana will post -0.53 EPS for the current year.

Insider Buying and Selling

In other Asana news, CFO Aziz Megji sold 35,444 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $9.53, for a total transaction of $337,781.32. Following the completion of the sale, the chief financial officer directly owned 729,945 shares in the company, valued at approximately $6,956,375.85. The trade was a 4.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Daniel Rogers sold 300,937 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $9.53, for a total value of $2,867,929.61. Following the transaction, the chief executive officer directly owned 1,624,894 shares of the company’s stock, valued at $15,485,239.82. The trade was a 15.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 513,663 shares of company stock worth $4,831,520 in the last 90 days. Insiders own 87.54% of the company’s stock.

Institutional Trading of Asana

A number of institutional investors have recently made changes to their positions in ASAN. Bank of America Corp DE grew its holdings in shares of Asana by 92.6% during the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after buying an additional 1,075,572 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Asana by 250.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company’s stock worth $3,410,000 after buying an additional 380,741 shares in the last quarter. Squarepoint Ops LLC boosted its position in Asana by 108.3% during the second quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock worth $6,217,000 after acquiring an additional 461,858 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Asana during the first quarter worth about $1,016,000. Finally, Royal Bank of Canada grew its stake in Asana by 2,925.2% during the 1st quarter. Royal Bank of Canada now owns 180,634 shares of the company’s stock valued at $1,157,000 after acquiring an additional 174,663 shares in the last quarter. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks, goals and business processes. Its platform provides tools for assigning and tracking work, managing timelines and dependencies, communicating about projects, and monitoring progress across teams and departments.

Asana’s products support a range of use cases, including project and portfolio management, workflow automation, strategic planning, marketing campaigns, product development and employee onboarding.