Asana (NYSE:ASAN) Issues Q4 Earnings Guidance

Asana (NYSE:ASAN) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $(0.02)-$(0.01) for the period, compared to the consensus estimate of ($0.02). The company issued revenue guidance of $187.5-188.5 million, compared to the consensus revenue estimate of $187.80 million. Asana also updated its FY 2025 guidance to -0.150–0.140 EPS.

Asana Price Performance

Shares of ASAN traded down $0.37 during trading hours on Thursday, hitting $15.47. 4,448,394 shares of the company were exchanged, compared to its average volume of 1,997,256. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $21.55. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -13.54 and a beta of 1.22. The firm’s fifty day moving average is $13.09 and its 200 day moving average is $13.24.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ASAN. Piper Sandler reduced their price objective on Asana from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Oppenheimer lowered their price objective on shares of Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Bank of America cut their target price on shares of Asana from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. JMP Securities dropped their price target on Asana from $27.00 to $21.00 and set a “market outperform” rating for the company in a research note on Wednesday, September 4th. Finally, KeyCorp reduced their price objective on Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.27.

Insider Buying and Selling

In other Asana news, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $11.99, for a total transaction of $357,385.93. Following the transaction, the chief operating officer now directly owns 761,088 shares in the company, valued at approximately $9,125,445.12. This trade represents a 3.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the transaction, the insider now owns 370,333 shares in the company, valued at approximately $4,366,226.07. This trade represents a 1.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,092 shares of company stock valued at $527,668 over the last quarter. Insiders own 63.97% of the company’s stock.

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.