Asana (NYSE:ASAN) Posts Earnings Results, Beats Estimates By $0.01 EPS

Asana (NYSE:ASAN) announced its earnings results on Tuesday. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01, Briefing.com reports. Asana had a negative net margin of 27.50% and a negative return on equity of 83.88%. The company had revenue of $201.03 million during the quarter, compared to analyst estimates of $198.78 million. During the same period in the previous year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Asana updated its FY 2026 guidance to 0.250-0.260 EPS and its Q4 2026 guidance to 0.070-0.070 EPS.

Asana Stock Performance

NYSE ASAN opened at $13.39 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.16. Asana has a twelve month low of $11.58 and a twelve month high of $27.77. The business has a 50-day moving average price of $13.53 and a 200-day moving average price of $14.20. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -15.05 and a beta of 0.93.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ASAN shares. Robert W. Baird lifted their price target on shares of Asana from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Royal Bank Of Canada reaffirmed an “underperform” rating on shares of Asana in a report on Wednesday. Morgan Stanley lifted their target price on Asana from $13.00 to $14.00 and gave the company an “underweight” rating in a research report on Thursday, September 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Asana from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.10.

Insider Buying and Selling

In other news, CFO Sonalee Elizabeth Parekh sold 194,976 shares of Asana stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $14.17, for a total transaction of $2,762,809.92. Following the sale, the chief financial officer owned 1,140,067 shares in the company, valued at $16,154,749.39. This trade represents a 14.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Anne Raimondi sold 28,026 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $14.17, for a total transaction of $397,128.42. Following the completion of the transaction, the chief operating officer directly owned 862,469 shares in the company, valued at $12,221,185.73. This trade represents a 3.15% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,427,928 shares of company stock valued at $36,497,981. Corporate insiders own 61.28% of the company’s stock.

Hedge Funds Weigh In On Asana

Several institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. increased its holdings in Asana by 17.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,794,103 shares of the company’s stock valued at $23,969,000 after acquiring an additional 263,251 shares during the last quarter. Sender Co & Partners Inc. purchased a new position in shares of Asana during the third quarter valued at about $173,000. PharVision Advisers LLC increased its holdings in shares of Asana by 61.2% in the third quarter. PharVision Advisers LLC now owns 16,314 shares of the company’s stock worth $218,000 after purchasing an additional 6,191 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Asana in the third quarter worth about $1,004,000. Finally, Voleon Capital Management LP purchased a new stake in shares of Asana in the third quarter worth about $370,000. 26.21% of the stock is owned by hedge funds and other institutional investors.

About Asana

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.