Asana, Inc. (NYSE:ASAN) Receives $34.91 Average Price Target from Brokerages

Asana, Inc. (NYSE:ASANGet Rating) has been assigned a consensus rating of “Hold” from the twelve research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $34.23.

Several research firms have recently issued reports on ASAN. Oppenheimer dropped their price target on shares of Asana to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Citigroup increased their price objective on shares of Asana from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday. JMP Securities decreased their price objective on shares of Asana from $63.00 to $43.00 and set a “market outperform” rating for the company in a research report on Friday, June 3rd. Piper Sandler increased their price objective on shares of Asana from $22.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Wolfe Research increased their price objective on shares of Asana from $22.00 to $23.75 and gave the stock an “outperform” rating in a research report on Thursday.

Asana Price Performance

ASAN stock opened at $24.66 on Thursday. The company has a fifty day moving average price of $20.76 and a 200-day moving average price of $27.20. The company has a market capitalization of $4.69 billion, a P/E ratio of -12.58 and a beta of 1.82. Asana has a 52-week low of $16.19 and a 52-week high of $145.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.37 and a current ratio of 1.15.

Asana (NYSE:ASANGet Rating) last released its quarterly earnings results on Wednesday, September 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.05. The firm had revenue of $134.90 million during the quarter, compared to the consensus estimate of $127.27 million. Asana had a negative net margin of 79.34% and a negative return on equity of 212.28%. The company’s revenue for the quarter was up 50.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.36) earnings per share. As a group, equities analysts expect that Asana will post -2.13 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Tim M. Wan sold 3,203 shares of Asana stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $18.20, for a total transaction of $58,294.60. Following the completion of the transaction, the chief financial officer now directly owns 609,276 shares in the company, valued at $11,088,823.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Tim M. Wan sold 3,203 shares of Asana stock in a transaction dated Wednesday, June 22nd. The shares were sold at an average price of $18.20, for a total transaction of $58,294.60. Following the completion of the transaction, the chief financial officer now directly owns 609,276 shares in the company, valued at $11,088,823.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dustin A. Moskovitz acquired 19,273,127 shares of Asana stock in a transaction dated Wednesday, September 7th. The shares were acquired at an average price of $18.16 per share, with a total value of $349,999,986.32. Following the completion of the acquisition, the chief executive officer now directly owns 39,112,803 shares of the company’s stock, valued at $710,288,502.48. The disclosure for this purchase can be found here. Corporate insiders own 61.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASAN. Nuveen Asset Management LLC lifted its position in shares of Asana by 1.7% during the fourth quarter. Nuveen Asset Management LLC now owns 669,275 shares of the company’s stock valued at $49,895,000 after purchasing an additional 10,894 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Asana by 4.7% during the first quarter. Eagle Asset Management Inc. now owns 548,417 shares of the company’s stock valued at $21,920,000 after purchasing an additional 24,708 shares in the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Asana during the fourth quarter valued at about $888,000. ClariVest Asset Management LLC lifted its position in shares of Asana by 48.1% during the first quarter. ClariVest Asset Management LLC now owns 8,508 shares of the company’s stock valued at $340,000 after purchasing an additional 2,762 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Asana in the fourth quarter worth about $11,462,000. 28.22% of the stock is currently owned by institutional investors and hedge funds.

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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