Citigroup Has Lowered Expectations for Asana (NYSE:ASAN) Stock Price

by · The Markets Daily

Asana (NYSE:ASAN – Get Free Report) had its target price reduced by stock analysts at Citigroup from $17.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 11.61% from the stock’s current price.

ASAN has been the topic of several other research reports. Robert W. Baird lifted their target price on shares of Asana from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, September 4th. Royal Bank Of Canada boosted their price target on shares of Asana from $12.00 to $14.00 and gave the stock an “underperform” rating in a research report on Wednesday. Morgan Stanley increased their price objective on shares of Asana from $13.00 to $14.00 and gave the company an “underweight” rating in a report on Thursday, September 4th. Wall Street Zen cut Asana from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $19.00 price target on shares of Asana in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.17.

Get Our Latest Stock Analysis on Asana

Asana Price Performance

Asana stock traded up $0.95 during midday trading on Wednesday, reaching $14.34. The company had a trading volume of 7,415,079 shares, compared to its average volume of 3,625,610. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41. Asana has a 12-month low of $11.58 and a 12-month high of $27.77. The company has a market capitalization of $3.39 billion, a P/E ratio of -16.11 and a beta of 0.93. The firm’s fifty day simple moving average is $13.53 and its 200-day simple moving average is $14.20.

Asana (NYSE:ASAN – Get Free Report) last announced its earnings results on Tuesday, December 2nd. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $201.03 million during the quarter, compared to analysts’ expectations of $198.78 million. Asana had a negative return on equity of 83.88% and a negative net margin of 27.50%.The business’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Asana has set its FY 2026 guidance at 0.250-0.260 EPS and its Q4 2026 guidance at 0.070-0.070 EPS. As a group, equities analysts anticipate that Asana will post -1.09 EPS for the current year.

Insider Buying and Selling at Asana

In other Asana news, Director Justin Rosenstein sold 13,701 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $14.95, for a total transaction of $204,829.95. Following the completion of the transaction, the director owned 1,068,846 shares of the company’s stock, valued at $15,979,247.70. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sonalee Elizabeth Parekh sold 63,374 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $14.38, for a total transaction of $911,318.12. Following the completion of the sale, the chief financial officer directly owned 1,076,693 shares in the company, valued at $15,482,845.34. This trade represents a 5.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,427,928 shares of company stock worth $36,497,981 over the last quarter. 61.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asana

A number of institutional investors have recently modified their holdings of ASAN. Jacobs Levy Equity Management Inc. raised its holdings in Asana by 17.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,794,103 shares of the company’s stock valued at $23,969,000 after acquiring an additional 263,251 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in Asana during the third quarter worth approximately $173,000. PharVision Advisers LLC lifted its position in Asana by 61.2% in the third quarter. PharVision Advisers LLC now owns 16,314 shares of the company’s stock valued at $218,000 after acquiring an additional 6,191 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Asana in the 3rd quarter valued at about $1,004,000. Finally, Voleon Capital Management LP acquired a new stake in shares of Asana in the third quarter valued at approximately $370,000. 26.21% of the stock is owned by institutional investors and hedge funds.

Asana Company Profile

(Get Free Report)

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; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.

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