In yesterday’s Wall Street session, Asana Inc. (NYSE:ASAN) shares traded at $18.84, up 7.35% from the previous session.
As of this writing, 16 analysts cover Asana Inc. (NYSE:ASAN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $43.00 and a low of $15.00, we find $24.00. Given the previous closing price of $17.55, this indicates a potential upside of 36.75 percent. ASAN stock price is now -10.50% away from the 50-day moving average and -31.73% away from the 200-day moving average. The market capitalization of the company currently stands at $3.85B.
There are 7 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $26.32 as their price target over the next twelve months.
On September 23, 2022, Credit Suisse recently initiated its ‘Neutral’ rating on the stock quoting a target price of $23, while ‘MoffettNathanson’ rates the stock as ‘Market Perform’.
In other news, LACEY ELEANOR B, GC, Corporate Secretary sold 303 shares of the company’s stock on Sep 22. The stock was sold for $6,942 at an average price of $22.91. Upon completion of the transaction, the GC, Corporate Secretary now directly owns 168,304 shares in the company, valued at $3.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 21, GC, Corporate Secretary LACEY ELEANOR B sold 1,855 shares of the business’s stock. A total of $43,782 was realized by selling the stock at an average price of $23.60. This leaves the insider owning 168,607 shares of the company worth $3.18 million. Insiders disposed of 786,131 shares of company stock worth roughly $14.81 million over the past 1 year. A total of 41.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ASAN stock. A new stake in Asana Inc. shares was purchased by CAVALRY MANAGEMENT GROUP, LLC during the first quarter worth $9,770,000. LISANTI CAPITAL GROWTH, LLC invested $5,098,000 in shares of ASAN during the first quarter. In the first quarter, SQUAREPOINT OPS LLC acquired a new stake in Asana Inc. valued at approximately $4,360,000. BERYLSON CAPITAL PARTNERS, LLC acquired a new stake in ASAN for approximately $1,846,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in ASAN valued at around $1,519,000 in the second quarter. In total, there are 337 active investors with 57.80% ownership of the company’s stock.
Wednesday morning saw Asana Inc. (NYSE: ASAN) opened at $17.88. During the past 12 months, Asana Inc. has had a low of $15.67 and a high of $113.40. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for ASAN is $20.92 and a two-hundred day moving average price translates $27.41 for the stock.
The latest earnings results from Asana Inc. (NYSE: ASAN) was released for Jul, 2022. According to the Software – Application Company, earnings per share came in at -$0.34, beating analysts’ expectations of -$0.39 by 0.05. This compares to -$0.40 EPS in the same period last year. The net profit margin was -79.30% and return on equity was -212.30% for ASAN. The company reported revenue of $134.9 million for the quarter, compared to $89.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 50.76 percent. For the current quarter, analysts expect ASAN to generate $138.98M in revenue.
Asana Inc.(ASAN) 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. The company’s platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings. It serves customers in industries, such as technology, retail, education, non-profit, government, healthcare, media, and financial services. The company was formerly known as Smiley Abstractions, Inc. and changed its name to Asana, Inc. in July 2009. Asana, Inc. was incorporated in 2008 and is headquartered in San Francisco, California.