Asana (NYSE:ASAN) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Asana (NYSE:ASAN - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.21), Zacks reports. Asana had a negative net margin of 36.17% and a negative return on equity of 86.84%. The firm had revenue of $188.30 million during the quarter, compared to the consensus estimate of $188.13 million. During the same period last year, the business earned ($0.04) earnings per share. The business's revenue was up 10.1% compared to the same quarter last year.

Asana Stock Performance

Shares of NYSE:ASAN traded down $1.56 during midday trading on Monday, reaching $16.69. The company had a trading volume of 7,612,656 shares, compared to its average volume of 2,497,906. Asana has a 52-week low of $11.05 and a 52-week high of $27.77. The company's 50 day moving average price is $20.63 and its 200 day moving average price is $16.85. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The stock has a market cap of $3.82 billion, a P/E ratio of -14.90 and a beta of 1.13.

Analysts Set New Price Targets

ASAN has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on Asana from $13.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. KeyCorp raised Asana from an "underweight" rating to a "sector weight" rating and set a $10.00 price target for the company in a research note on Friday, December 6th. DA Davidson boosted their price target on shares of Asana from $13.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Jefferies Financial Group increased their price objective on shares of Asana from $16.00 to $19.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. Finally, Scotiabank boosted their target price on shares of Asana from $15.00 to $18.00 and gave the company a "sector perform" rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.73.

Remove Ads

Insiders Place Their Bets

In other Asana news, Director Justin Rosenstein sold 150,000 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.76, for a total value of $2,964,000.00. Following the sale, the director now directly owns 1,097,309 shares in the company, valued at $21,682,825.84. The trade was a 12.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Anne Raimondi sold 27,233 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $21.71, for a total value of $591,228.43. Following the transaction, the chief operating officer now directly owns 733,855 shares in the company, valued at $15,931,992.05. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 723,300 shares of company stock valued at $15,161,068. Company insiders own 63.97% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.