Asana, Inc. (NYSE:ASAN) Expected to Post Quarterly Sales of $93.62 Million

Wall Street analysts forecast that Asana, Inc. (NYSE:ASAN) will announce sales of $93.62 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Asana’s earnings. The lowest sales estimate is $93.50 million and the highest is $93.75 million. Asana posted sales of $58.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 58.9%. The business is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Asana will report full year sales of $358.37 million for the current fiscal year, with estimates ranging from $357.58 million to $358.88 million. For the next year, analysts anticipate that the business will report sales of $462.36 million, with estimates ranging from $439.15 million to $490.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Asana.

Asana (NYSE:ASAN) last posted its quarterly earnings results on Tuesday, August 31st. The company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.03. Asana had a negative return on equity of 288.11% and a negative net margin of 89.91%. The company had revenue of $89.50 million for the quarter, compared to analysts’ expectations of $82.26 million. Asana’s quarterly revenue was up 72.1% on a year-over-year basis.

ASAN has been the topic of several recent research reports. Zacks Investment Research raised Asana from a “sell” rating to a “hold” rating in a report on Wednesday, August 4th. Oppenheimer upped their price objective on Asana from $77.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, September 2nd. KeyCorp upped their price objective on Asana from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, September 2nd. Wolfe Research upped their price objective on Asana from $48.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, July 19th. Finally, Jefferies Financial Group upped their price objective on Asana from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 13th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Asana currently has a consensus rating of “Buy” and an average target price of $70.92.

In other news, CEO Dustin A. Moskovitz bought 13,915 shares of the stock in a transaction on Monday, September 13th. The stock was acquired at an average cost of $100.00 per share, for a total transaction of $1,391,500.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Tim M. Wan sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 21st. The stock was sold at an average price of $117.69, for a total value of $2,353,800.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,013,915 shares of company stock worth $99,636,500 and have sold 138,512 shares worth $11,344,985. Insiders own 54.43% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yale University purchased a new stake in shares of Asana during the 2nd quarter worth $5,321,000. Holocene Advisors LP purchased a new stake in Asana in the first quarter valued at about $5,002,000. Advisory Services Network LLC purchased a new stake in Asana in the second quarter valued at about $183,000. Arizona State Retirement System purchased a new stake in Asana in the second quarter valued at about $1,077,000. Finally, Principal Financial Group Inc. purchased a new stake in Asana in the second quarter valued at about $717,000. Hedge funds and other institutional investors own 33.87% of the company’s stock.

Shares of ASAN traded up $1.48 during mid-day trading on Monday, hitting $116.31. 92,279 shares of the stock were exchanged, compared to its average volume of 3,490,122. The company has a market cap of $21.39 billion and a PE ratio of -64.85. Asana has a 52-week low of $20.57 and a 52-week high of $124.85. The firm has a 50-day moving average of $94.23 and a two-hundred day moving average of $63.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.10 and a current ratio of 2.10.

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. It provides a work management platform as software as service that enables individuals and teams to get work done faster while enhancing employee engagement by allowing everyone to see how their work connects to the mission of an organization.

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Earnings History and Estimates for Asana (NYSE:ASAN)

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