Research Analysts Offer Predictions for Asana, Inc.’s FY2024 Earnings (NYSE:ASAN)

Asana, Inc. (NYSE:ASAN) – Stock analysts at DA Davidson decreased their FY2024 earnings per share (EPS) estimates for Asana in a research note issued on Thursday, September 7th. DA Davidson analyst R. Simmons now expects that the company will earn ($1.34) per share for the year, down from their prior forecast of ($1.33). DA Davidson has a “Neutral” rating and a $21.00 price objective on the stock. The consensus estimate for Asana’s current full-year earnings is ($1.33) per share. DA Davidson also issued estimates for Asana’s FY2025 earnings at ($1.14) EPS.

Other analysts have also recently issued research reports about the company. Piper Sandler restated a “neutral” rating and set a $24.00 target price on shares of Asana in a report on Wednesday, September 6th. Morgan Stanley decreased their target price on Asana from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 6th. Citigroup reiterated a “neutral” rating and issued a $24.00 price target (down previously from $26.00) on shares of Asana in a report on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $28.00 price target on shares of Asana in a report on Wednesday, September 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $10.00 price target on shares of Asana in a report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.31.

Asana Price Performance

Shares of ASAN stock opened at $20.10 on Monday. The stock’s fifty day moving average is $21.79 and its 200-day moving average is $20.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.90 and a current ratio of 1.89. The stock has a market capitalization of $4.36 billion, a PE ratio of -13.05 and a beta of 1.24. Asana has a 52 week low of $11.32 and a 52 week high of $28.92.

Asana (NYSE:ASAN) last announced its earnings results on Tuesday, September 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.07. The company had revenue of $162.46 million for the quarter, compared to analysts’ expectations of $157.91 million. Asana had a negative return on equity of 87.79% and a negative net margin of 54.21%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.59) earnings per share.

Insiders Place Their Bets

In other Asana news, CEO Dustin A. Moskovitz purchased 507,500 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $20.02 per share, with a total value of $10,160,150.00. Following the completion of the transaction, the chief executive officer now directly owns 41,700,303 shares in the company, valued at approximately $834,840,066.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Asana news, CEO Dustin A. Moskovitz purchased 507,500 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $20.02 per share, with a total value of $10,160,150.00. Following the completion of the transaction, the chief executive officer now directly owns 41,700,303 shares in the company, valued at approximately $834,840,066.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dustin A. Moskovitz purchased 80,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were acquired at an average cost of $21.47 per share, for a total transaction of $1,717,600.00. Following the transaction, the chief executive officer now owns 42,282,802 shares of the company’s stock, valued at $907,811,758.94. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,627,500 shares of company stock worth $34,884,950 and have sold 359,959 shares worth $8,933,088. Company insiders own 63.26% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of hedge funds and other institutional investors have recently bought and sold shares of ASAN. National Bank of Canada FI grew its stake in Asana by 5.8% in the second quarter. National Bank of Canada FI now owns 11,290 shares of the company’s stock valued at $248,000 after purchasing an additional 620 shares in the last quarter. Virtu Financial LLC grew its stake in Asana by 11.9% in the first quarter. Virtu Financial LLC now owns 6,195 shares of the company’s stock valued at $248,000 after purchasing an additional 658 shares in the last quarter. US Bancorp DE grew its stake in Asana by 118.7% in the first quarter. US Bancorp DE now owns 1,216 shares of the company’s stock valued at $26,000 after purchasing an additional 660 shares in the last quarter. Barclays PLC grew its stake in Asana by 1.6% in the first quarter. Barclays PLC now owns 43,738 shares of the company’s stock valued at $924,000 after purchasing an additional 686 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Asana by 5.1% in the first quarter. Commonwealth Equity Services LLC now owns 14,789 shares of the company’s stock valued at $312,000 after purchasing an additional 718 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.