Asana (NYSE:ASAN) Upgraded by Zacks Research to “Strong-Buy” Rating

Asana (NYSE:ASAN) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts also recently issued reports on ASAN. Royal Bank Of Canada upped their price objective on shares of Asana from $7.00 to $8.00 and gave the stock a “sector perform” rating in a report on Friday, May 29th. Citizens Jmp reissued a “market outperform” rating and set a $15.00 target price on shares of Asana in a research report on Tuesday, July 7th. Morgan Stanley cut their target price on shares of Asana from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Friday, May 29th. UBS Group restated a “neutral” rating and set a $8.00 price target on shares of Asana in a report on Friday, May 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $7.00 price target (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.27.

Asana Price Performance

Shares of NYSE:ASAN opened at $8.19 on Monday. The business has a 50-day moving average of $7.28 and a two-hundred day moving average of $7.55. Asana has a fifty-two week low of $5.38 and a fifty-two week high of $15.71. The stock has a market capitalization of $1.89 billion, a P/E ratio of -11.86 and a beta of 0.97.

Asana (NYSE:ASAN) last announced its earnings results on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Asana had a negative return on equity of 74.32% and a negative net margin of 20.21%.The firm had revenue of $205.09 million during the quarter, compared to analysts’ expectations of $203.58 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. As a group, research analysts expect that Asana will post -0.4 EPS for the current fiscal year.

Insider Activity at Asana

In related news, CFO Aziz Megji sold 13,239 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $6.73, for a total transaction of $89,098.47. Following the transaction, the chief financial officer owned 765,389 shares of the company’s stock, valued at approximately $5,151,067.97. The trade was a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Marie Colendich sold 5,242 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.68, for a total transaction of $35,016.56. Following the transaction, the insider owned 176,598 shares of the company’s stock, valued at approximately $1,179,674.64. The trade was a 2.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 118,304 shares of company stock worth $792,775. Insiders own 61.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ASAN. Jupiter Asset Management Ltd. increased its stake in Asana by 705.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock valued at $18,850,000 after acquiring an additional 1,204,232 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in Asana by 250.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 532,796 shares of the company’s stock valued at $3,410,000 after acquiring an additional 380,741 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Asana in the 1st quarter worth approximately $591,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Asana by 37.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after acquiring an additional 1,969,657 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Asana during the 1st quarter worth approximately $783,000. Institutional investors and hedge funds own 26.21% of the company’s stock.

About Asana

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.