Zacks: Brokerages Expect Asana, Inc. (NYSE:ASAN) Will Post Earnings of -$0.36 Per Share

Equities analysts forecast that Asana, Inc. (NYSE:ASANGet Rating) will report ($0.36) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Asana’s earnings, with estimates ranging from ($0.37) to ($0.34). Asana posted earnings per share of ($0.21) during the same quarter last year, which would indicate a negative year over year growth rate of 71.4%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Asana will report full year earnings of ($1.27) per share for the current financial year, with EPS estimates ranging from ($1.30) to ($1.24). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.07) per share, with EPS estimates ranging from ($1.38) to ($0.83). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Asana.

Asana (NYSE:ASANGet Rating) last issued its earnings results on Wednesday, March 9th. The company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.05). Asana had a negative return on equity of 158.77% and a negative net margin of 76.19%. The business had revenue of $111.95 million for the quarter, compared to analyst estimates of $105.18 million. During the same period last year, the company posted ($0.32) earnings per share. The firm’s revenue for the quarter was up 63.7% on a year-over-year basis.

Several equities analysts have recently commented on the company. Morgan Stanley lowered their target price on Asana from $64.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, March 14th. Piper Sandler lowered their price target on shares of Asana from $100.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, March 10th. Jefferies Financial Group lowered their price target on shares of Asana from $85.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, January 6th. Royal Bank of Canada lowered their price target on shares of Asana from $60.00 to $38.00 and set a “sector perform” rating for the company in a research report on Thursday, March 10th. Finally, Oppenheimer decreased their target price on shares of Asana from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, January 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.54.

In other news, CEO Dustin A. Moskovitz acquired 500,000 shares of Asana stock in a transaction on Wednesday, January 19th. The stock was bought at an average cost of $54.30 per share, with a total value of $27,150,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eleanor B. Lacey sold 17,480 shares of the company’s stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $52.37, for a total transaction of $915,427.60. The disclosure for this sale can be found here. Over the last three months, insiders acquired 4,750,000 shares of company stock valued at $270,217,500 and sold 67,172 shares valued at $3,506,757. 54.43% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of ASAN. Whittier Trust Co. purchased a new stake in shares of Asana in the third quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in shares of Asana in the third quarter worth approximately $27,000. HM Payson & Co. lifted its position in shares of Asana by 265.0% in the fourth quarter. HM Payson & Co. now owns 365 shares of the company’s stock worth $27,000 after purchasing an additional 265 shares in the last quarter. Bellwether Advisors LLC purchased a new stake in shares of Asana in the fourth quarter worth approximately $28,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Asana in the fourth quarter worth approximately $36,000. 31.09% of the stock is owned by institutional investors.

ASAN traded up $0.79 on Wednesday, hitting $35.22. 60,896 shares of the company’s stock were exchanged, compared to its average volume of 5,116,375. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.17. The stock has a fifty day moving average of $48.26 and a two-hundred day moving average of $78.36. Asana has a twelve month low of $26.00 and a twelve month high of $145.79. The firm has a market cap of $6.66 billion, a PE ratio of -21.25 and a beta of 1.29.

About Asana (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. 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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