Asana, Inc. (NYSE:ASAN) Receives $29.83 Average Price Target from Analysts

Asana, Inc. (NYSE:ASANGet Rating) has received a consensus recommendation of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $29.67.

ASAN has been the topic of several research analyst reports. Moffett Nathanson assumed coverage on Asana in a research note on Thursday, September 22nd. They set a “market perform” rating and a $26.00 price target on the stock. Wolfe Research lifted their price objective on Asana from $22.00 to $23.75 and gave the stock an “outperform” rating in a research report on Thursday, September 8th. Morgan Stanley cut their price target on Asana from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup boosted their price target on Asana from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Finally, Piper Sandler cut their price target on Asana from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, October 20th.

Asana Stock Up 7.4 %

ASAN opened at $18.84 on Tuesday. The business’s 50-day simple moving average is $20.92 and its 200-day simple moving average is $20.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.15 and a current ratio of 1.15. Asana has a one year low of $15.67 and a one year high of $113.40. The stock has a market capitalization of $3.61 billion, a P/E ratio of -9.61 and a beta of 1.15.

Asana (NYSE:ASANGet Rating) last issued its quarterly earnings results on Wednesday, September 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.59). The firm had revenue of $134.90 million for the quarter, compared to analysts’ expectations of $127.27 million. Asana had a negative return on equity of 212.28% and a negative net margin of 79.34%. The firm’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.36) EPS. Analysts anticipate that Asana will post -2.12 EPS for the current year.

Insider Buying and Selling at Asana

In related news, CEO Dustin A. Moskovitz acquired 19,273,127 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average cost of $18.16 per share, for a total transaction of $349,999,986.32. Following the completion of the acquisition, the chief executive officer now directly owns 39,112,803 shares of the company’s stock, valued at approximately $710,288,502.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Tim M. Wan sold 4,754 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $23.60, for a total value of $112,194.40. Following the completion of the transaction, the chief financial officer now owns 612,106 shares of the company’s stock, valued at approximately $14,445,701.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dustin A. Moskovitz acquired 19,273,127 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was purchased at an average cost of $18.16 per share, with a total value of $349,999,986.32. Following the purchase, the chief executive officer now directly owns 39,112,803 shares in the company, valued at approximately $710,288,502.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 6,986 shares of company stock worth $165,326. 61.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAN. FMR LLC raised its holdings in shares of Asana by 120.4% during the 2nd quarter. FMR LLC now owns 1,578 shares of the company’s stock valued at $28,000 after purchasing an additional 862 shares in the last quarter. Performa Ltd US LLC raised its holdings in Asana by 580.0% in the 2nd quarter. Performa Ltd US LLC now owns 1,700 shares of the company’s stock worth $30,000 after acquiring an additional 1,450 shares during the period. Parkside Financial Bank & Trust bought a new position in Asana in the 2nd quarter worth $36,000. Gables Capital Management Inc. raised its holdings in Asana by 30.4% in the 2nd quarter. Gables Capital Management Inc. now owns 3,000 shares of the company’s stock worth $53,000 after acquiring an additional 700 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Asana by 311.5% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the company’s stock worth $55,000 after acquiring an additional 1,869 shares during the period. Hedge funds and other institutional investors own 28.22% of the company’s stock.

Asana Company Profile

(Get Rating)

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.

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Analyst Recommendations for Asana (NYSE:ASAN)

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