Asana (NYSE:ASAN) Downgraded to Buy Rating by Wall Street Zen

Asana (NYSE:ASAN) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

Other analysts also recently issued reports about the company. KeyCorp cut their target price on Asana from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Asana in a research note on Friday, May 8th. UBS Group reaffirmed a “neutral” rating and set a $8.00 price target on shares of Asana in a report on Friday, May 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $15.00 price objective on shares of Asana in a research report on Tuesday, July 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $7.00 price objective (down from $9.00) on shares of Asana in a report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.27.

Asana Stock Down 0.9%

Shares of NYSE ASAN traded down $0.06 during midday trading on Friday, hitting $7.31. The stock had a trading volume of 4,667,816 shares, compared to its average volume of 5,092,294. The business’s 50 day moving average is $7.04 and its 200-day moving average is $8.11. The company has a market cap of $1.68 billion, a P/E ratio of -10.59 and a beta of 0.97. Asana has a 52 week low of $5.38 and a 52 week high of $15.71.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $205.09 million for the quarter, compared to analysts’ expectations of $203.58 million. Asana had a negative net margin of 20.21% and a negative return on equity of 74.32%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company 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. As a group, analysts expect that Asana will post -0.4 EPS for the current fiscal year.

Insider Activity at Asana

In other Asana news, CEO Daniel Mark Rogers sold 13,790 shares of Asana stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $6.89, for a total value of $95,013.10. Following the completion of the sale, the chief executive officer owned 1,891,990 shares of the company’s stock, valued at approximately $13,035,811.10. The trade was a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 business’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 sale, the insider owned 176,598 shares of the company’s stock, valued at approximately $1,179,674.64. This represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 118,304 shares of company stock worth $792,775. Company insiders own 61.28% of the company’s stock.

Institutional Trading of Asana

A number of hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its holdings in Asana by 41.8% in the second quarter. Handelsbanken Fonder AB now owns 32,900 shares of the company’s stock valued at $230,000 after acquiring an additional 9,700 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of Asana by 20.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 27,637 shares of the company’s stock valued at $193,000 after purchasing an additional 4,655 shares during the period. Optiver Holding B.V. grew its stake in shares of Asana by 2,008.8% during the 1st quarter. Optiver Holding B.V. now owns 5,251 shares of the company’s stock valued at $34,000 after purchasing an additional 5,002 shares during the period. Bank of America Corp DE increased its position in shares of Asana by 92.6% during 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 last quarter. Finally, Royal Bank of Canada increased its position in shares of Asana by 2,925.2% during the 1st quarter. Royal Bank of Canada now owns 180,634 shares of the company’s stock valued at $1,157,000 after purchasing an additional 174,663 shares during the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

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.