Asana (NYSE:ASAN) Updates Q4 Earnings Guidance

Asana (NYSE:ASAN) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $(0.02)-$(0.01) for the period, compared to the consensus estimate of ($0.02). The company issued revenue guidance of $187.5-188.5 million, compared to the consensus revenue estimate of $187.80 million. Asana also updated its FY 2025 guidance to -0.150–0.140 EPS.

Analysts Set New Price Targets

A number of brokerages have issued reports on ASAN. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $10.00 target price on shares of Asana in a report on Wednesday, October 23rd. KeyCorp raised Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price objective for the company in a research report on Friday. Oppenheimer cut their target price on shares of Asana from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Scotiabank started coverage on shares of Asana in a research report on Monday, November 18th. They set a “sector perform” rating and a $15.00 price objective on the stock. Finally, Bank of America decreased their target price on Asana from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus target price of $15.40.

Asana Stock Performance

Asana stock opened at $15.46 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.53 billion, a P/E ratio of -13.44 and a beta of 1.22. Asana has a 1-year low of $11.05 and a 1-year high of $21.55. The firm has a 50-day moving average of $13.17 and a 200-day moving average of $13.25.

Asana (NYSE:ASAN) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $179.21 million during the quarter, compared to analysts’ expectations of $177.68 million. Asana had a negative return on equity of 81.88% and a negative net margin of 37.73%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) EPS. Sell-side analysts expect that Asana will post -1.14 EPS for the current year.

Insider Buying and Selling

In other news, insider Eleanor B. Lacey sold 9,308 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the transaction, the insider now owns 375,310 shares of the company’s stock, valued at approximately $4,499,966.90. This represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the completion of the transaction, the chief operating officer now owns 761,088 shares of the company’s stock, valued at approximately $9,125,445.12. The trade was a 3.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,092 shares of company stock valued at $527,668 over the last quarter. 63.97% of the stock is owned by company insiders.

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.