Zacks: Analysts Expect Asana, Inc. (NYSE:ASAN) Will Post Earnings of -$0.26 Per Share

Analysts expect that Asana, Inc. (NYSE:ASAN) will post ($0.26) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Asana’s earnings, with estimates ranging from ($0.27) to ($0.26). Asana reported earnings per share of ($0.34) during the same quarter last year, which suggests a positive year over year growth rate of 23.5%. The company is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Asana will report full year earnings of ($0.97) per share for the current financial year, with EPS estimates ranging from ($0.99) to ($0.95). For the next financial year, analysts expect that the business will report earnings of ($1.01) per share, with EPS estimates ranging from ($1.07) to ($0.88). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Asana.

Asana (NYSE:ASAN) last announced its earnings results on Tuesday, August 31st. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $89.50 million during the quarter, compared to analyst estimates of $82.26 million. Asana had a negative net margin of 89.91% and a negative return on equity of 288.11%. The firm’s quarterly revenue was up 72.1% on a year-over-year basis.

A number of equities research analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Asana from $50.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, September 2nd. Zacks Investment Research upgraded shares of Asana from a “sell” rating to a “hold” rating in a research note on Wednesday, August 4th. JMP Securities boosted their target price on shares of Asana from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 2nd. Morgan Stanley boosted their target price on shares of Asana from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Friday, June 4th. Finally, Piper Sandler boosted their price objective on shares of Asana from $52.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $65.79.

In related news, CEO Dustin A. Moskovitz acquired 160,000 shares of the company’s stock in a transaction on Wednesday, June 23rd. The stock was acquired at an average price of $58.96 per share, with a total value of $9,433,600.00. Following the acquisition, the chief executive officer now directly owns 2,839,728 shares of the company’s stock, valued at $167,430,362.88. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dustin A. Moskovitz acquired 250,000 shares of the company’s stock in a transaction on Wednesday, September 8th. The shares were bought at an average cost of $93.21 per share, with a total value of $23,302,500.00. Following the acquisition, the chief executive officer now directly owns 3,967,591 shares in the company, valued at $369,819,157.11. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,313,915 shares of company stock valued at $98,884,400 and sold 121,032 shares valued at $8,422,818. Corporate insiders own 54.43% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ASAN. Close Asset Management Ltd purchased a new stake in shares of Asana during the 1st quarter valued at about $29,000. Itau Unibanco Holding S.A. purchased a new stake in Asana in the 2nd quarter worth about $62,000. Botty Investors LLC raised its position in Asana by 26.8% in the 1st quarter. Botty Investors LLC now owns 2,406 shares of the company’s stock worth $69,000 after purchasing an additional 508 shares during the period. Lazard Asset Management LLC purchased a new stake in Asana in the 2nd quarter worth about $86,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Asana in the 2nd quarter worth about $95,000. Hedge funds and other institutional investors own 33.87% of the company’s stock.

Shares of ASAN opened at $118.26 on Friday. The firm has a market cap of $21.75 billion and a PE ratio of -65.34. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $79.75 and a two-hundred day simple moving average of $53.07. Asana has a 1-year low of $20.57 and a 1-year high of $121.38.

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. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

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Earnings History and Estimates for Asana (NYSE:ASAN)

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