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

Asana (NYSE:ASAN) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.

Several other research firms have also recently weighed in on ASAN. BTIG Research reiterated a “neutral” rating on shares of Asana in a report on Friday, September 4th. DA Davidson increased their target price on Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a report on Wednesday, August 5th. Barclays cut shares of Asana to an “outperform” rating in a report on Monday, August 24th. Finally, Citigroup reissued a “market outperform” rating on shares of Asana in a research report on Monday, August 24th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.95.

Asana Stock Up 10.2%

Shares of NYSE ASAN opened at $9.66 on Friday. The company’s fifty day moving average is $8.63 and its 200-day moving average is $7.44. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -14.64 and a beta of 0.95. Asana has a twelve month low of $5.38 and a twelve month high of $15.48.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The company had revenue of $216.43 million during the quarter, compared to analyst estimates of $214.15 million. During the same quarter in the previous year, the business earned $0.06 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, research analysts anticipate that Asana will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Asana

In other news, CAO Veronica Sosa sold 11,378 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $6.66, for a total value of $75,777.48. Following the sale, the chief accounting officer owned 62,344 shares of the company’s stock, valued at $415,211.04. The trade was a 15.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Katie Colendich sold 5,242 shares of the stock in a transaction on Friday, June 26th. The stock was 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 $1,179,674.64. The trade was a 2.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 119,959 shares of company stock valued at $809,325 over the last ninety days. 87.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Asana

Several hedge funds have recently modified their holdings of ASAN. Arrowstreet Capital Limited Partnership raised its position 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 acquiring an additional 1,969,657 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in shares of Asana by 705.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,374,891 shares of the company’s stock worth $18,850,000 after purchasing an additional 1,204,232 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Asana by 92.6% in the 1st quarter. Bank of America Corp DE now owns 2,237,195 shares of the company’s stock valued at $14,318,000 after purchasing an additional 1,075,572 shares during the period. First Trust Advisors LP lifted its stake in Asana by 12.9% in the 1st quarter. First Trust Advisors LP now owns 1,988,739 shares of the company’s stock valued at $12,728,000 after purchasing an additional 227,204 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Asana by 108.3% in the 2nd quarter. Squarepoint Ops LLC now owns 888,160 shares of the company’s stock valued at $6,217,000 after purchasing an additional 461,858 shares during the last quarter. Institutional investors own 26.21% of the company’s stock.

Asana Company Profile

Asana, Inc develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform is designed to improve collaboration, planning and visibility across departments, enabling users to assign work, set deadlines, track progress and manage priorities in one system.

Asana’s products and features include project and task management, workflow automation, project portfolios, goals and reporting tools, team collaboration capabilities, and integrations with other business applications.