Asana (NYSE:ASAN) Price Target Lowered to $11.00 at Citigroup

Asana (NYSE:ASAN) had its price target dropped by stock analysts at Citigroup from $13.00 to $11.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 43.40% from the company’s previous close.

A number of other equities research analysts also recently weighed in on ASAN. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research report on Friday, May 8th. HSBC set a $8.00 target price on Asana in a research report on Friday, February 13th. KeyCorp cut their target price on Asana from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday. Wall Street Zen downgraded Asana from a “strong-buy” rating to a “buy” rating in a research report on Sunday, April 19th. Finally, Piper Sandler restated a “neutral” rating and issued a $7.00 target price (down from $9.00) on shares of Asana in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.96.

Asana Price Performance

Shares of NYSE ASAN traded up $1.01 during midday trading on Friday, hitting $7.67. 12,239,235 shares of the company’s stock were exchanged, compared to its average volume of 6,074,370. The stock’s 50 day moving average price is $6.31 and its 200-day moving average price is $9.39. The firm has a market cap of $1.83 billion, a P/E ratio of -9.50 and a beta of 0.95. Asana has a twelve month low of $5.38 and a twelve month high of $19.00.

Asana (NYSE:ASAN) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.02. The business had revenue of $205.10 million during the quarter, compared to the consensus estimate of $203.58 million. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q2 2027 guidance at 0.080-0.090 EPS. On average, analysts expect that Asana will post -0.53 EPS for the current fiscal year.

Insider Activity

In other Asana news, CAO Veronica Sosa sold 6,479 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $6.65, for a total value of $43,085.35. Following the completion of the transaction, the chief accounting officer directly owned 73,722 shares in the company, valued at approximately $490,251.30. This represents a 8.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Katie Marie Colendich sold 7,304 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the transaction, the insider directly owned 108,214 shares in the company, valued at $802,947.88. This trade represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 70,226 shares of company stock worth $472,065. 61.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Asana

Several institutional investors and hedge funds have recently made changes to their positions in ASAN. Arrowstreet Capital Limited Partnership increased its holdings in Asana by 37.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,184,248 shares of the company’s stock worth $45,979,000 after buying an additional 1,969,657 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in Asana by 705.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after buying an additional 1,204,232 shares during the last quarter. Bank of America Corp DE increased its holdings in Asana by 92.6% during the first quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock worth $14,318,000 after buying an additional 1,075,572 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Asana by 53.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,791,902 shares of the company’s stock worth $38,277,000 after buying an additional 977,107 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in Asana by 35.1% during the fourth quarter. Marshall Wace LLP now owns 2,653,145 shares of the company’s stock worth $36,375,000 after buying an additional 689,546 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

Asana News Roundup

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported first-quarter fiscal 2027 earnings and revenue that beat consensus estimates, with EPS of $0.10 on revenue of about $205.1 million, while revenue grew 9.5% year over year. The company also pointed to improving operating cash flow. Asana Announces First Quarter Fiscal 2027 Results
• Positive Sentiment: Management raised its second-quarter and full-year fiscal 2027 outlook above Wall Street expectations, which suggests improving visibility into growth and profitability. Earnings Report and Conference Call
• Positive Sentiment: Asana completed its acquisition of StackAI, a no-code AI workflow platform, which supports its push to become an AI-native workplace platform and could strengthen long-term product differentiation. Asana Acquires StackAI
• Neutral Sentiment: Citizens JMP reaffirmed its “market outperform” rating and set a $15 price target, reinforcing a bullish view on the stock. Analyst Rating Update
• Neutral Sentiment: KeyCorp also lowered its price target to $13 from $15 but kept an “overweight” rating, indicating some confidence despite a reduced valuation view. Analyst Rating Update
• Negative Sentiment: Morgan Stanley cut its price target to $7 and maintained an “underweight” rating, reflecting ongoing concerns about upside and execution. Analyst Rating Update

Asana Company Profile

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.