Asana Inc. (NYSE:ASAN) shares traded -2.65% lower at $17.27 on Wall Street last session.
In accordance with the data, 15 analysts cover Asana Inc. (NYSE:ASAN). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $10.00, we find $24.00. Given the previous closing price of $17.74, this indicates a potential upside of 35.29 percent. ASAN stock price is now -19.30% away from the 50-day moving average and -7.80% away from the 200-day moving average. The market capitalization of the company currently stands at $3.88B.
It has been rated a hold by 9 analysts and a buy by 4. Brokers who have rated the stock have averaged $23.08 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 507,500 shares of the company’s stock on Sep 19. The stock was bought for $8,987,825 at an average price of $17.71. Upon completion of the transaction, the President, CEO, & Chair now directly owns 43,932,649 shares in the company, valued at $758.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 18, President, CEO, & Chair Moskovitz Dustin A. bought 507,500 shares of the business’s stock. A total of $9,322,775 was incurred on buying the stock at an average price of $18.37. This leaves the insider owning 43,425,149 shares of the company worth $749.95 million. Insiders disposed of 417,288 shares of company stock worth roughly $7.21 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 LMR PARTNERS LLP during the first quarter worth $11,657,000. FORMULA GROWTH LTD invested $1,900,000 in shares of ASAN during the first quarter. In the first quarter, CRESSET ASSET MANAGEMENT, LLC acquired a new stake in Asana Inc. valued at approximately $1,784,000. MACKENZIE FINANCIAL CORP acquired a new stake in ASAN for approximately $1,763,000. ALIGHT CAPITAL MANAGEMENT LP purchased a new stake in ASAN valued at around $1,727,000 in the second quarter. In total, there are 308 active investors with 48.10% ownership of the company’s stock.
Asana Inc. (NYSE: ASAN) opened at $17.82 on Wednesday. During the past 12 months, Asana Inc. has had a low of $11.32 and a high of $27.14. As of last week, the company has a debt-to-equity ratio of 0.14, a current ratio of 1.90, and a quick ratio of 1.90. The fifty day moving average price for ASAN is $21.28 and a two-hundred day moving average price translates $18.73 for the stock.
The latest earnings results from Asana Inc. (NYSE: ASAN) was released for Jul, 2023. According to the Software – Application Company, earnings per share came in at -$0.04, beating analysts’ expectations of -$0.11 by 0.07. This compares to -$0.59 EPS in the same period last year. The net profit margin was -54.20% and return on equity was -91.70% for ASAN. The company reported revenue of $162.46 million for the quarter, compared to $134.9 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.43 percent. For the current quarter, analysts expect ASAN to generate $164.06M 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.
