Asana (NYSE:ASAN) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Asana (NYSE:ASAN) from a hold rating to a buy rating in a report released on Saturday.

ASAN has been the topic of a number of other research reports. Robert W. Baird upped their price target on shares of Asana from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, September 4th. DA Davidson decreased their target price on Asana from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley increased their target price on Asana from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Thursday, September 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price objective on Asana from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.19.

Asana Price Performance

ASAN opened at $14.17 on Friday. The stock has a market cap of $3.35 billion, a P/E ratio of -15.24 and a beta of 0.93. Asana has a 12 month low of $11.58 and a 12 month high of $27.77. The company has a quick ratio of 1.41, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $13.55 and a 200 day simple moving average of $14.15.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Asana had a negative net margin of 28.33% and a negative return on equity of 79.80%. The company had revenue of $201.03 million for the quarter, compared to the consensus estimate of $198.78 million. During the same period last year, the company earned ($0.02) earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. On average, research analysts expect that Asana will post -1.09 EPS for the current year.

Insider Buying and Selling at Asana

In related news, Director Justin Rosenstein sold 13,701 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $14.95, for a total transaction of $204,829.95. Following the completion of the sale, the director directly owned 1,068,846 shares in the company, valued at approximately $15,979,247.70. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 28,026 shares of the stock in a transaction that occurred 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 owned 862,469 shares in the company, valued at $12,221,185.73. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,427,928 shares of company stock worth $36,497,981 in the last three months. 61.28% of the stock is currently owned by company insiders.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bogart Wealth LLC purchased a new position in shares of Asana during the 2nd quarter worth about $27,000. Jones Financial Companies Lllp boosted its position in shares of Asana by 137.7% during the third quarter. Jones Financial Companies Lllp now owns 2,463 shares of the company’s stock valued at $34,000 after buying an additional 1,427 shares during the period. AlphaQuest LLC boosted its position in shares of Asana by 825.1% during the first quarter. AlphaQuest LLC now owns 2,470 shares of the company’s stock valued at $36,000 after buying an additional 2,203 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Asana by 119.7% during the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock valued at $34,000 after buying an additional 1,391 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Asana by 104.8% in the first quarter. Quarry LP now owns 2,906 shares of the company’s stock worth $42,000 after buying an additional 1,487 shares during the period. Institutional investors own 26.21% of the company’s stock.

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.