Asana’s (ASAN) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp reissued their market outperform rating on shares of Asana (NYSE:ASAN) in a research note published on Friday morning,Benzinga reports. Citizens Jmp currently has a $15.00 price objective on the stock.

A number of other equities research analysts have also weighed in on ASAN. DA Davidson restated a “neutral” rating and issued a $8.00 price objective on shares of Asana in a report on Friday, May 29th. Zacks Research downgraded shares of Asana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Piper Sandler increased their target price on Asana from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Friday. Wall Street Zen downgraded Asana from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 12th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Asana in a report on Friday. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Asana has a consensus rating of “Hold” and an average price target of $9.95.

Asana Stock Performance

Shares of Asana stock opened at $8.81 on Friday. The business has a 50-day simple moving average of $8.43 and a 200-day simple moving average of $7.37. Asana has a one year low of $5.38 and a one year high of $15.48. The company has a market cap of $2.03 billion, a PE ratio of -13.35 and a beta of 0.95.

Asana (NYSE:ASAN) last issued its earnings results on Thursday, September 3rd. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Asana had a negative net margin of 18.62% and a negative return on equity of 80.33%. The firm had revenue of $216.43 million for the quarter, compared to analysts’ expectations of $214.15 million. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Asana has set its FY 2027 guidance at 0.370-0.370 EPS and its Q3 2027 guidance at 0.080-0.080 EPS. On average, sell-side analysts predict that Asana will post -0.4 earnings per share for the current fiscal year.

Insider Activity at Asana

In other news, insider Katie Colendich sold 5,242 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $6.68, for a total value of $35,016.56. Following the completion of the transaction, the insider owned 176,598 shares in the company, valued at approximately $1,179,674.64. This represents a 2.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel Rogers sold 13,790 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $6.89, for a total transaction of $95,013.10. Following the completion of the transaction, the chief executive officer directly owned 1,891,990 shares in the company, valued at $13,035,811.10. This trade represents a 0.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 119,959 shares of company stock worth $809,325 in the last ninety days. Company insiders own 87.54% of the company’s stock.

Institutional Trading of Asana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vident Advisory LLC raised its position in Asana by 4.3% in the 3rd quarter. Vident Advisory LLC now owns 22,527 shares of the company’s stock valued at $301,000 after purchasing an additional 930 shares during the last quarter. ProShare Advisors LLC grew its position in Asana by 7.8% during the 4th quarter. ProShare Advisors LLC now owns 16,412 shares of the company’s stock worth $225,000 after purchasing an additional 1,188 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Asana by 64.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,371 shares of the company’s stock valued at $59,000 after purchasing an additional 1,706 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Asana by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock valued at $707,000 after purchasing an additional 2,328 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Asana by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 52,327 shares of the company’s stock valued at $706,000 after buying an additional 2,373 shares during the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

Trending Headlines about Asana

Here are the key news stories impacting Asana this week:

• Positive Sentiment: Asana reported fiscal second-quarter adjusted EPS of $0.10, ahead of the $0.09 consensus estimate, while revenue of $216.4 million exceeded expectations of $214.2 million and increased 9.9% year over year. Asana Announces Second Quarter Fiscal 2027 Results
• Positive Sentiment: Fiscal 2027 revenue guidance of $858.5 million to $863.5 million was broadly in line with consensus, while the company’s EPS outlook of $0.37 was above the $0.22 analyst estimate. Management also highlighted improving retention, stronger upmarket momentum and growing adoption of its AI products. Asana FY2027 Outlook
• Positive Sentiment: Several analysts raised their valuation targets following the results. RBC increased its target to $9.50 from $8, UBS raised its target to $10 from $8, and Piper Sandler lifted its target to $9 from $7. Citizens JMP maintained an outperform rating with a $15 target. RBC Raises Asana Price Target
• Neutral Sentiment: Asana executives will present at Citi’s Global TMT Conference on September 9 and Piper Sandler’s Growth Frontiers Conference on September 15. These events could provide updates on AI-agent coordination, enterprise demand and retention trends. Asana Investor Events
• Negative Sentiment: The immediate share-price weakness was driven primarily by soft fiscal third-quarter guidance: revenue of $217 million to $219 million is slightly below or near consensus, and investors viewed the outlook as insufficient after the earnings beat. Asana Stock Outlook
• Negative Sentiment: Analysts and investors remain concerned about churn and Asana’s still-negative profitability, creating skepticism that AI momentum will translate into faster durable growth. Asana Churn Analysis

Asana Company Profile

Asana, Inc (NYSE: ASAN) is a leading provider of work management and collaboration software designed to help teams organize, track and manage their work. Founded in 2008 by Dustin Moskovitz and Justin Rosenstein, Asana’s platform enables users to create projects, assign tasks, set deadlines and visualize progress across diverse workflows. The company’s cloud-based solution includes customizable project templates, timeline views, boards and automated rules that streamline routine processes and reduce manual effort.

Built for both small teams and large enterprises, Asana supports integrations with a wide array of third-party applications, including communication tools, file-sharing services and DevOps platforms.