Asana (ASAN) Scheduled to Post Quarterly Earnings on Thursday

Asana (NYSE:ASANGet Rating) will release its earnings data after the market closes on Thursday, June 2nd. Analysts expect Asana to post earnings of ($0.57) per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Asana (NYSE:ASANGet Rating) last posted its earnings results on Wednesday, March 9th. The company reported ($0.48) earnings per share (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 business had revenue of $111.95 million for the quarter, compared to analysts’ expectations of $105.18 million. During the same period last year, the firm posted ($0.32) earnings per share. Asana’s quarterly revenue was up 63.7% on a year-over-year basis. On average, analysts expect Asana to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

ASAN opened at $20.20 on Thursday. 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 52-week low of $17.87 and a 52-week high of $145.79. The stock has a market capitalization of $3.82 billion, a PE ratio of -12.47 and a beta of 1.90. The stock’s 50 day moving average price is $31.81 and its 200-day moving average price is $58.03.

ASAN has been the topic of several research analyst reports. Zacks Investment Research raised Asana from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. JMP Securities reduced their price target on Asana from $95.00 to $63.00 and set a “market outperform” rating on the stock in a research note on Thursday, March 10th. Morgan Stanley reduced their price target 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. Robert W. Baird reduced their price target on Asana from $110.00 to $65.00 in a research note on Thursday, March 10th. Finally, JPMorgan Chase & Co. cut Asana from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $66.00 to $32.00 in a research note on Thursday, March 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $58.31.

In other news, insider Eleanor B. Lacey sold 1,359 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $34.64, for a total transaction of $47,075.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eleanor B. Lacey sold 4,167 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $29.50, for a total value of $122,926.50. Following the completion of the transaction, the insider now directly owns 165,076 shares in the company, valued at approximately $4,869,742. The disclosure for this sale can be found here. Insiders sold 18,026 shares of company stock worth $619,164 over the last three months. Corporate insiders own 54.43% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ASAN. BlackRock Inc. lifted its holdings in Asana by 17.3% in the fourth quarter. BlackRock Inc. now owns 6,121,980 shares of the company’s stock valued at $456,394,000 after acquiring an additional 903,307 shares during the period. Morgan Stanley increased its position in Asana by 621.7% in the second quarter. Morgan Stanley now owns 1,018,489 shares of the company’s stock worth $63,177,000 after buying an additional 877,373 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Asana by 1,624.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 506,183 shares of the company’s stock worth $20,232,000 after buying an additional 476,835 shares in the last quarter. Renaissance Technologies LLC increased its position in Asana by 26.6% in the first quarter. Renaissance Technologies LLC now owns 1,577,500 shares of the company’s stock worth $63,053,000 after buying an additional 331,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Asana by 252.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 327,787 shares of the company’s stock worth $24,437,000 after buying an additional 234,892 shares in the last quarter. 92.50% of the stock is currently owned by institutional investors.

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.

Further Reading

Earnings History for Asana (NYSE:ASAN)

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