Stocks of Asana Inc. (NYSE:ASAN) traded higher last session on Wall Street, down -2.88% to $21.60.
According to the data, Asana Inc. (NYSE:ASAN) has 15 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $32.00 and a low of $10.00, we find $24.00. Given the previous closing price of $22.24, this indicates a potential upside of 7.91 percent. ASAN stock price is now -1.02% away from the 50-day moving average and 16.56% away from the 200-day moving average. The market capitalization of the company currently stands at $4.82B.
A total of 9 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $23.69 as their price target over the next twelve months.
With the price target maintained at $21, DA Davidson recently Downgraded its rating from Buy to Neutral for Asana Inc. (NYSE: ASAN).
In other news, Moskovitz Dustin A., President, CEO, & Chair bought 200,000 shares of the company’s stock on Jul 20. The stock was bought for $4,532,913 at an average price of $22.66. Upon completion of the transaction, the President, CEO, & Chair now directly owns 40,552,803 shares in the company, valued at $875.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 20, Chief Financial Officer Wan Tim M sold 5,000 shares of the business’s stock. A total of $116,700 was realized by selling the stock at an average price of $23.34. This leaves the insider owning 793,785 shares of the company worth $17.15 million. Insiders disposed of 379,657 shares of company stock worth roughly $8.2 million over the past 1 year. A total of 31.60% 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 WESTERLY CAPITAL MANAGEMENT, LLC during the first quarter worth $8,640,000. STANLEY-LAMAN GROUP, LTD. invested $7,846,000 in shares of ASAN during the first quarter. In the first quarter, UBS OCONNOR LLC acquired a new stake in Asana Inc. valued at approximately $4,860,000. TWINBEECH CAPITAL LP acquired a new stake in ASAN for approximately $4,147,000. SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) purchased a new stake in ASAN valued at around $2,890,000 in the second quarter. In total, there are 310 active investors with 48.10% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $22.52 for Asana Inc. (NYSE: ASAN). During the past 12 months, Asana Inc. has had a low of $11.32 and a high of $29.51. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.90, and a quick ratio of 1.90. The fifty day moving average price for ASAN is $21.92 and a two-hundred day moving average price translates $18.52 for the stock.
The latest earnings results from Asana Inc. (NYSE: ASAN) was released for Apr, 2023. According to the Software – Application Company, earnings per share came in at -$0.09, beating analysts’ expectations of -$0.18 by 0.09. This compares to -$0.52 EPS in the same period last year. The net profit margin was -64.00% and return on equity was -124.30% for ASAN. The company reported revenue of $152.41 million for the quarter, compared to $120.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.33 percent. For the current quarter, analysts expect ASAN to generate $157.91M 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. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings. The company serves customers in various industries, such as technology, retail, education, non-profit, government, healthcare, hospitality, media, manufacturing, professional services, 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.
