Asana, Inc. (NYSE:ASAN) Expected to Post Earnings of -$0.36 Per Share

Wall Street brokerages predict that Asana, Inc. (NYSE:ASANGet Rating) will report earnings per share (EPS) of ($0.36) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Asana’s earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.34). Asana reported earnings per share of ($0.21) during the same quarter last year, which indicates a negative year over year growth rate of 71.4%. The business 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 ($1.26) per share for the current financial year, with EPS estimates ranging from ($1.29) to ($1.24). For the next financial year, analysts expect that the company will report earnings of ($1.09) per share, with EPS estimates ranging from ($1.38) to ($0.83). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Asana.

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

Several equities analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Asana from $100.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, March 10th. Zacks Investment Research cut shares of Asana from a “buy” rating to a “hold” rating in a report on Thursday, March 10th. Jefferies Financial Group decreased their price objective on shares of Asana from $85.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, January 6th. Morgan Stanley decreased their price objective on shares of Asana from $64.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, March 14th. Finally, Royal Bank of Canada decreased their price objective on shares of Asana from $60.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, March 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $61.54.

In other news, insider Eleanor B. Lacey sold 8,333 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $40.40, for a total transaction of $336,653.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tim M. Wan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $62.60, for a total transaction of $1,252,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 2,750,000 shares of company stock valued at $160,522,500 and have sold 47,172 shares valued at $2,551,157. 54.43% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new position in shares of Asana during the third quarter valued at about $27,000. HM Payson & Co. raised its position in 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 acquired a new position in Asana in the fourth quarter worth about $28,000. Northwestern Mutual Wealth Management Co. acquired a new position in Asana in the fourth quarter worth about $36,000. Finally, Rockefeller Capital Management L.P. raised its position in Asana by 133.1% in the third quarter. Rockefeller Capital Management L.P. now owns 415 shares of the company’s stock worth $43,000 after purchasing an additional 237 shares in the last quarter. 31.09% of the stock is owned by institutional investors and hedge funds.

Asana stock opened at $26.80 on Wednesday. The company’s fifty day simple moving average is $39.67 and its 200-day simple moving average is $70.89. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61. Asana has a 12 month low of $26.00 and a 12 month high of $145.79.

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. 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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Earnings History and Estimates for Asana (NYSE:ASAN)

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