Asana (NYSE:ASAN) Stock Rating Upgraded by Zacks Research

by · The Markets Daily

Asana (NYSE:ASAN – Get Free Report) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research firms have also recently weighed in on ASAN. Piper Sandler increased their price objective on Asana from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, September 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Asana in a report on Tuesday, November 3rd. Robert W. Baird upped their price target on Asana from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Friday, September 4th. DA Davidson increased their price target on Asana from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, September 4th. Finally, Citigroup reiterated a “market outperform” rating on shares of Asana in a research report on Monday, August 24th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $9.95.

Get Our Latest Analysis on Asana

Asana Stock Performance

Shares of Asana stock opened at $9.59 on Monday. Asana has a 1 year low of $5.38 and a 1 year high of $15.28. The company has a market capitalization of $2.20 billion, a P/E ratio of -14.53 and a beta of 0.99. The company’s fifty day moving average is $9.95 and its two-hundred day moving average is $8.14.

Asana (NYSE:ASAN – Get Free Report) last announced its earnings results on Thursday, September 3rd. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $216.43 million during the quarter, compared to analysts’ expectations of $214.15 million. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. As a group, equities analysts expect that Asana will post -0.53 earnings per share for the current year.

Insider Activity at Asana

In other news, CEO Daniel Rogers sold 19,676 shares of the firm’s stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $11.52, for a total value of $226,667.52. Following the completion of the sale, the chief executive officer directly owned 1,437,022 shares of the company’s stock, valued at $16,554,493.44. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katie Colendich sold 6,318 shares of Asana stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $8.65, for a total value of $54,650.70. Following the completion of the sale, the insider owned 155,371 shares in the company, valued at approximately $1,343,959.15. This trade represents a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 551,360 shares of company stock worth $5,239,118 over the last 90 days. Company insiders own 87.54% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Inscription Capital LLC boosted its position in shares of Asana by 5.0% during the 3rd quarter. Inscription Capital LLC now owns 21,084 shares of the company’s stock worth $178,000 after purchasing an additional 1,002 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in shares of Asana by 131.6% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 3,126 shares of the company’s stock worth $26,000 after purchasing an additional 1,776 shares during the period. Retirement Planning Co of New England Inc. increased its holdings in shares of Asana by 7.6% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 30,994 shares of the company’s stock valued at $261,000 after purchasing an additional 2,187 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Asana by 39.7% in the 3rd quarter. Versant Capital Management Inc now owns 8,443 shares of the company’s stock valued at $71,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Asana by 801.8% in the 3rd quarter. Sterling Capital Management LLC now owns 3,084 shares of the company’s stock valued at $26,000 after purchasing an additional 2,742 shares in the last quarter. Hedge funds and other institutional investors own 26.21% of the company’s stock.

About Asana

(Get Free Report)

Asana, Inc. develops cloud-based work management software that helps organizations coordinate projects, tasks and team workflows. Its platform provides tools for assigning work, setting deadlines, tracking progress and sharing updates across teams. Organizations can use Asana to manage projects and recurring processes, align work with broader goals, and connect workflows with other business applications. The company also offers features designed to help teams automate work and use artificial intelligence within their workflows.

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