Asana (NYSE:ASAN) Stock Price Up 3.9% – Still a Buy?

Asana, Inc. (NYSE:ASAN)’s stock price traded up 3.9% during mid-day trading on Wednesday . The stock traded as high as $9.48 and last traded at $9.4350. Approximately 4,667,576 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 6,164,294 shares. The stock had previously closed at $9.08.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ASAN shares. Citizens Jmp reissued a “market outperform” rating and set a $15.00 price target on shares of Asana in a research report on Friday, September 4th. DA Davidson lifted their target price on Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Robert W. Baird increased their price target on Asana from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th. Finally, Zacks Research downgraded shares of Asana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.95.

Asana Stock Performance

The business has a fifty day simple moving average of $8.89 and a 200-day simple moving average of $7.53. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -14.36 and a beta of 0.95.

Asana (NYSE:ASAN) last posted its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $214.15 million. During the same period in the previous year, the firm posted $0.06 EPS. The company’s revenue for the quarter 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. On average, equities analysts anticipate that Asana, Inc. will post -0.53 earnings per share for the current year.

Insider Activity at Asana

In other Asana news, CEO Daniel Rogers sold 13,790 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $6.89, for a total transaction of $95,013.10. Following the completion of the sale, the chief executive officer owned 1,891,990 shares of the company’s stock, valued at approximately $13,035,811.10. This represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Colendich sold 5,242 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $6.68, for a total transaction of $35,016.56. Following the transaction, the insider directly owned 176,598 shares in the company, valued at approximately $1,179,674.64. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 20,687 shares of company stock worth $146,580 over the last quarter. 87.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

Hedge funds have recently made changes to their positions in the business. Optiver Holding B.V. boosted its holdings 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 worth $34,000 after buying an additional 5,002 shares during the last quarter. Performa Ltd US LLC increased its holdings 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 buying an additional 4,775 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Asana during the first quarter worth about $53,000. HB Wealth Management LLC bought a new position in shares of Asana during the 2nd quarter valued at approximately $71,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Asana in the 2nd quarter worth approximately $88,000. 26.21% of the stock is currently owned by institutional investors.

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.