Asana (NYSE:ASAN) Price Target Raised to $22.00 at Oppenheimer

Asana (NYSE:ASAN) had its price target upped by Oppenheimer from $20.00 to $22.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. KeyCorp raised shares of Asana from an “underweight” rating to a “sector weight” rating and set a $10.00 price target for the company in a research report on Friday. Piper Sandler upped their price objective on shares of Asana from $12.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley reduced their target price on Asana from $19.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Royal Bank of Canada reissued an “underperform” rating and set a $10.00 target price on shares of Asana in a research report on Friday. Finally, DA Davidson boosted their price objective on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Asana currently has a consensus rating of “Hold” and a consensus target price of $16.53.

Asana Trading Up 43.6 %

Shares of ASAN stock opened at $22.20 on Friday. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $22.54. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $5.06 billion, a P/E ratio of -19.30 and a beta of 1.22. The stock has a 50-day simple moving average of $13.17 and a 200 day simple moving average of $13.25.

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

Insider Activity

In other news, COO Anne Raimondi sold 29,807 shares of the company’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 transaction of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eleanor B. Lacey sold 4,977 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $11.79, for a total value of $58,678.83. Following the completion of the transaction, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. This represents a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,092 shares of company stock worth $527,668. Company insiders own 63.97% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC increased its position in shares of Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after buying an additional 2,220 shares in the last quarter. KBC Group NV grew its stake in Asana by 52.1% in the third quarter. KBC Group NV now owns 3,534 shares of the company’s stock valued at $41,000 after acquiring an additional 1,211 shares during the period. Quest Partners LLC acquired a new stake in shares of Asana during the third quarter worth about $43,000. Redwood Wealth Management Group LLC bought a new stake in Asana during the 2nd quarter worth approximately $65,000. Finally, Daiwa Securities Group Inc. lifted its stake in Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after buying an additional 1,028 shares in the last quarter. Institutional investors and hedge funds own 26.21% of the company’s stock.

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. 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.