Asana (NYSE:ASAN) Stock Rating Lowered by Piper Sandler

Asana (NYSE:ASAN) was downgraded by stock analysts at Piper Sandler from an “overweight” rating to a “hold” rating in a note issued to investors on Tuesday, Marketbeat reports. They presently have a $7.00 target price on the stock. Piper Sandler’s target price suggests a potential upside of 27.04% from the company’s current price.

Several other analysts also recently issued reports on ASAN. KeyCorp reduced their price objective on Asana from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. UBS Group reduced their price objective on Asana from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen upgraded Asana from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Royal Bank Of Canada upgraded Asana from an “underperform” rating to a “sector perform” rating and set a $7.00 price objective on the stock in a research report on Wednesday, April 1st. Finally, Morgan Stanley reduced their price objective on Asana from $14.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.32.

Asana Stock Performance

ASAN opened at $5.51 on Tuesday. The business’s fifty day moving average is $7.00 and its two-hundred day moving average is $11.00. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -6.89 and a beta of 1.08. Asana has a one year low of $5.38 and a one year high of $19.00.

Asana (NYSE:ASAN) last posted its earnings results on Monday, March 2nd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Asana had a negative return on equity of 77.05% and a negative net margin of 23.90%.The company had revenue of $205.57 million for the quarter, compared to the consensus estimate of $205.13 million. The firm’s revenue was up 9.2% on a year-over-year basis. On average, analysts predict that Asana will post -1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Asana news, insider Katie Marie Colendich sold 7,304 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.42, for a total transaction of $54,195.68. Following the completion of the sale, the insider directly owned 108,214 shares in the company, valued at $802,947.88. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Veronica Sosa sold 6,479 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $6.65, for a total value of $43,085.35. Following the sale, the chief accounting officer owned 73,722 shares of the company’s stock, valued at $490,251.30. This represents a 8.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 70,226 shares of company stock worth $472,065 over the last three months. 61.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Asana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC grew its stake in shares of Asana by 6.8% in the fourth quarter. 180 Wealth Advisors LLC now owns 12,489 shares of the company’s stock valued at $171,000 after buying an additional 798 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Asana by 4.3% in the third quarter. Vident Advisory LLC now owns 22,527 shares of the company’s stock valued at $301,000 after buying an additional 930 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Asana by 3.6% in the third quarter. Blue Trust Inc. now owns 27,606 shares of the company’s stock valued at $369,000 after buying an additional 968 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Asana by 7.8% in the fourth quarter. ProShare Advisors LLC now owns 16,412 shares of the company’s stock valued at $225,000 after buying an additional 1,188 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Asana by 119.7% in the third quarter. Farther Finance Advisors LLC now owns 2,553 shares of the company’s stock valued at $34,000 after buying an additional 1,391 shares in the last quarter. 26.21% of the stock is currently owned by institutional investors and hedge funds.

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.