Asana (NYSE:ASAN) Updates Q2 Earnings Guidance

Asana (NYSE:ASAN) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.09)-($0.08) for the period, compared to the consensus earnings per share estimate of ($0.05). The company issued revenue guidance of $177.0-178.0 million, compared to the consensus revenue estimate of $177.20 million. Asana also updated its FY 2025 guidance to -0.210–0.190 EPS.

Asana Trading Down 0.6 %

NYSE ASAN opened at $13.05 on Friday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -11.15 and a beta of 1.22. Asana has a 52 week low of $12.85 and a 52 week high of $26.27. The stock’s 50 day moving average price is $14.87 and its two-hundred day moving average price is $17.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.80 and a current ratio of 1.80.

Asana (NYSE:ASAN) last announced its earnings results on Monday, March 11th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. Asana had a negative net margin of 38.55% and a negative return on equity of 76.83%. The business had revenue of $171.14 million during the quarter, compared to analysts’ expectations of $167.59 million. As a group, analysts anticipate that Asana will post -1.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group reduced their price target on Asana from $17.00 to $16.00 and set a hold rating for the company in a research report on Friday. UBS Group cut their target price on shares of Asana from $20.00 to $17.00 and set a neutral rating for the company in a research note on Friday, May 24th. KeyCorp decreased their target price on Asana from $14.00 to $13.00 and set an underweight rating on the stock in a report on Friday. Oppenheimer cut their price target on Asana from $28.00 to $23.00 and set an outperform rating for the company in a report on Friday. Finally, Bank of America began coverage on shares of Asana in a report on Monday, February 26th. They issued a buy rating and a $25.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $19.23.

Insider Buying and Selling at Asana

In related news, COO Anne Raimondi sold 11,779 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total transaction of $181,161.02. Following the sale, the chief operating officer now owns 492,230 shares of the company’s stock, valued at $7,570,497.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Asana news, CFO Tim M. Wan sold 10,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the sale, the chief financial officer now directly owns 753,888 shares in the company, valued at $11,308,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anne Raimondi sold 11,779 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $15.38, for a total value of $181,161.02. Following the sale, the chief operating officer now owns 492,230 shares of the company’s stock, valued at $7,570,497.40. The disclosure for this sale can be found here. Insiders sold 51,733 shares of company stock valued at $788,886 in the last quarter. Company 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.