DA Davidson Increases Asana (NYSE:ASAN) Price Target to $20.00

Asana (NYSE:ASAN - Get Free Report) had its price target increased by equities research analysts at DA Davidson from $13.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. DA Davidson's price objective would indicate a potential downside of 9.87% from the company's current price. DA Davidson also issued estimates for Asana's Q4 2025 earnings at ($0.26) EPS.

A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada reiterated an "underperform" rating and issued a $10.00 target price on shares of Asana in a research report on Friday. Bank of America cut their price objective on shares of Asana from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, September 4th. Citigroup lowered their target price on Asana from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Robert W. Baird increased their price target on Asana from $13.00 to $19.00 and gave the company a "neutral" rating in a report on Friday. Finally, Piper Sandler boosted their price objective on Asana from $12.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.53.

Asana Price Performance

ASAN traded up $6.73 during midday trading on Friday, hitting $22.19. 23,918,113 shares of the company traded hands, compared to its average volume of 1,698,546. The business has a 50 day simple moving average of $13.37 and a two-hundred day simple moving average of $13.30. Asana has a 52-week low of $11.05 and a 52-week high of $22.54. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -19.81 and a beta of 1.22. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.14.

Asana (NYSE:ASAN - Get Free Report) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm had revenue of $179.21 million for the quarter, compared to analyst estimates of $177.68 million. During the same period last year, the company posted ($0.31) EPS. Asana's quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts forecast that Asana will post -1.14 earnings per share for the current fiscal year.

Insider Activity at Asana

In related news, COO Anne Raimondi sold 29,807 shares of the 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 completion of the transaction, the chief operating officer now owns 761,088 shares of the company's stock, valued at approximately $9,125,445.12. This trade represents a 3.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eleanor B. Lacey sold 4,977 shares of the business's stock in a transaction that occurred on 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 sale, the insider now directly owns 370,333 shares in the company, valued at approximately $4,366,226.07. The trade was 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

Several hedge funds and other institutional investors have recently modified their holdings of ASAN. Neo Ivy Capital Management increased its stake in Asana by 195.1% during the 3rd quarter. Neo Ivy Capital Management now owns 169,454 shares of the company's stock worth $1,964,000 after buying an additional 112,038 shares during the period. Geode Capital Management LLC boosted its stake in shares of Asana by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,863,703 shares of the company's stock valued at $21,605,000 after buying an additional 12,055 shares during the period. Barclays PLC grew its position in shares of Asana by 103.0% during the third quarter. Barclays PLC now owns 165,753 shares of the company's stock worth $1,920,000 after buying an additional 84,114 shares in the last quarter. XTX Topco Ltd acquired a new stake in Asana in the third quarter valued at approximately $538,000. Finally, Quadrature Capital Ltd purchased a new position in Asana in the third quarter worth approximately $189,000. 26.21% of the stock is currently owned by hedge funds and other institutional investors.

About Asana

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.