Asana, Inc. (NYSE:ASAN) Expected to Post Quarterly Sales of $115.09 Million

Equities research analysts expect Asana, Inc. (NYSE:ASANGet Rating) to post sales of $115.09 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Asana’s earnings. The highest sales estimate is $115.24 million and the lowest is $115.00 million. Asana posted sales of $76.67 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 50.1%. The firm is scheduled to announce its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Asana will report full year sales of $529.67 million for the current year, with estimates ranging from $528.80 million to $530.33 million. For the next financial year, analysts anticipate that the business will report sales of $709.09 million, with estimates ranging from $683.30 million to $745.73 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Asana.

Asana (NYSE:ASANGet Rating) last posted its quarterly earnings data on Wednesday, March 9th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $111.95 million for the quarter, compared to analyst estimates of $105.18 million. During the same period in the previous year, the business posted ($0.32) earnings per share. The firm’s revenue was up 63.7% compared to the same quarter last year.

A number of brokerages recently weighed in on ASAN. JPMorgan Chase & Co. cut Asana from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $66.00 to $32.00 in a report on Thursday, March 10th. They noted that the move was a valuation call. Robert W. Baird reduced their target price on Asana from $110.00 to $65.00 in a report on Thursday, March 10th. KeyCorp reduced their price objective on Asana from $97.00 to $61.00 and set an “overweight” rating on the stock in a research note on Thursday, March 10th. Morgan Stanley reduced their price objective on Asana from $64.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, March 14th. Finally, Zacks Investment Research raised Asana from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Asana currently has a consensus rating of “Hold” and a consensus target price of $61.54.

In other Asana news, insider Eleanor B. Lacey sold 1,359 shares of the company’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $34.64, for a total value of $47,075.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dustin A. Moskovitz bought 500,000 shares of the business’s stock in a transaction on Thursday, February 24th. The stock was purchased at an average price of $49.36 per share, with a total value of $24,680,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 38,026 shares of company stock valued at $1,871,164. Insiders own 54.43% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of ASAN. MFA Wealth Advisors LLC bought a new position in shares of Asana in the third quarter valued at $27,000. HM Payson & Co. raised its stake in Asana by 265.0% during the 4th quarter. HM Payson & Co. now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares during the period. Bellwether Advisors LLC acquired a new stake in Asana during the 4th quarter valued at $28,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Asana during the 4th quarter valued at $36,000. Finally, Rockefeller Capital Management L.P. raised its stake in Asana by 133.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 415 shares of the company’s stock valued at $43,000 after purchasing an additional 237 shares during the period. 92.50% of the stock is currently owned by institutional investors.

ASAN opened at $22.66 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.61 and a quick ratio of 1.61. The business has a 50 day simple moving average of $32.67 and a 200-day simple moving average of $60.81. The stock has a market capitalization of $4.29 billion, a P/E ratio of -13.99 and a beta of 1.90. Asana has a 12 month low of $17.87 and a 12 month high of $145.79.

Asana Company Profile (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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