Asana (NYSE:ASAN) Announces Quarterly Earnings Results

Asana (NYSE:ASAN) issued its quarterly earnings data on Tuesday. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01, Briefing.com reports. The business had revenue of $201.03 million for the quarter, compared to analysts’ expectations of $198.78 million. Asana had a negative net margin of 28.33% and a negative return on equity of 76.23%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) EPS. Asana updated its FY 2026 guidance to 0.250-0.260 EPS and its Q4 2026 guidance to 0.070-0.070 EPS.

Asana Stock Performance

Shares of NYSE:ASAN opened at $14.40 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.41 and a quick ratio of 1.41. Asana has a 1 year low of $11.58 and a 1 year high of $27.77. The firm has a market capitalization of $3.40 billion, a PE ratio of -15.48 and a beta of 0.93. The business’s 50 day moving average price is $13.54 and its 200-day moving average price is $14.20.

Analysts Set New Price Targets

Several analysts recently commented on ASAN shares. DA Davidson set a $15.00 price target on shares of Asana in a research report on Wednesday. Wall Street Zen cut Asana from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Piper Sandler restated an “overweight” rating and issued a $19.00 price target on shares of Asana in a research note on Thursday, September 4th. Morgan Stanley increased their price target on Asana from $13.00 to $14.00 and gave the stock an “underweight” rating in a research report on Thursday, September 4th. Finally, Robert W. Baird boosted their price objective on Asana from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.17.

Insider Buying and Selling at Asana

In other news, CFO Sonalee Elizabeth Parekh sold 194,976 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $14.17, for a total value of $2,762,809.92. Following the completion of the sale, the chief financial officer directly owned 1,140,067 shares in the company, valued at $16,154,749.39. This represents a 14.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Anne Raimondi sold 28,026 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $14.17, for a total transaction of $397,128.42. Following the transaction, the chief operating officer owned 862,469 shares in the company, valued at $12,221,185.73. The trade was a 3.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,427,928 shares of company stock worth $36,497,981. Corporate insiders own 61.28% of the company’s stock.

Institutional Investors Weigh In On Asana

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Asana by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,546 shares of the company’s stock worth $707,000 after buying an additional 2,328 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Asana by 40.9% during the 1st quarter. Empowered Funds LLC now owns 25,441 shares of the company’s stock worth $371,000 after acquiring an additional 7,381 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Asana by 14.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 258,733 shares of the company’s stock valued at $3,770,000 after acquiring an additional 32,708 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of Asana during the 2nd quarter valued at about $158,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Asana in the second quarter valued at about $160,000. 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.