DA Davidson Reiterates Neutral Rating for Asana (NYSE:ASAN)

DA Davidson restated their neutral rating on shares of Asana (NYSE:ASAN) in a report issued on Wednesday morning, Benzinga reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $14.00. DA Davidson also issued estimates for Asana’s Q3 2025 earnings at ($0.33) EPS.

A number of other equities research analysts have also weighed in on ASAN. Jefferies Financial Group decreased their price objective on shares of Asana from $17.00 to $16.00 and set a hold rating for the company in a report on Friday, May 31st. Royal Bank of Canada reissued an underperform rating and set a $10.00 target price on shares of Asana in a research report on Wednesday. Robert W. Baird dropped their target price on Asana from $20.00 to $13.00 and set a neutral rating on the stock in a research report on Wednesday. KeyCorp decreased their target price on shares of Asana from $12.00 to $10.00 and set an underweight rating for the company in a research report on Wednesday. Finally, Bank of America dropped their target price on Asana from $18.00 to $16.00 and set a buy rating on the stock in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Asana has an average rating of Hold and a consensus price target of $14.67.

Asana Stock Down 6.4 %

Shares of ASAN opened at $11.78 on Wednesday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of -10.07 and a beta of 1.16. The business’s 50 day simple moving average is $13.64 and its 200-day simple moving average is $14.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.71 and a quick ratio of 1.71. Asana has a 1 year low of $11.29 and a 1 year high of $23.44.

Asana (NYSE:ASAN) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Asana had a negative net margin of 38.55% and a negative return on equity of 77.48%. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities analysts expect that Asana will post -1.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Asana news, insider Eleanor B. Lacey sold 9,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $102,960.00. Following the completion of the transaction, the insider now owns 389,149 shares of the company’s stock, valued at $4,451,864.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Asana news, insider Eleanor B. Lacey sold 4,999 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $12.95, for a total value of $64,737.05. Following the transaction, the insider now directly owns 384,150 shares in the company, valued at approximately $4,974,742.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eleanor B. Lacey sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $11.44, for a total transaction of $102,960.00. Following the sale, the insider now owns 389,149 shares of the company’s stock, valued at approximately $4,451,864.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,443 shares of company stock worth $1,026,976. Company insiders own 63.97% of the company’s stock.

Hedge Funds Weigh In On Asana

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. acquired a new stake in shares of Asana during the second quarter valued at about $17,100,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Asana during the second quarter worth $3,050,000. Scientech Research LLC acquired a new stake in shares of Asana in the second quarter valued at $146,000. The Manufacturers Life Insurance Company raised its holdings in shares of Asana by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,096 shares of the company’s stock valued at $687,000 after buying an additional 1,888 shares during the period. Finally, AQR Capital Management LLC increased its stake in Asana by 25.6% during the second quarter. AQR Capital Management LLC now owns 32,503 shares of the company’s stock worth $444,000 after purchasing an additional 6,634 shares during the period. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

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.