Asana (NYSE:ASAN) Updates Q4 Earnings Guidance

Asana (NYSE:ASAN) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $(0.02)-$(0.01) for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group cut their target price on Asana from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “underperform” rating and issued a $10.00 target price on shares of Asana in a research note on Wednesday, October 23rd. Robert W. Baird cut their target price on Asana from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. DA Davidson increased their price objective on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, JMP Securities dropped their price objective 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. Three investment 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, Asana currently has a consensus rating of “Hold” and a consensus target price of $14.27.

Asana Price Performance

Shares of NYSE:ASAN traded down $0.37 during midday trading on Thursday, reaching $15.46. The company’s stock had a trading volume of 3,877,046 shares, compared to its average volume of 1,989,573. Asana has a fifty-two week low of $11.05 and a fifty-two week high of $21.55. The company has a market capitalization of $3.53 billion, a P/E ratio of -13.54 and a beta of 1.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. The business’s fifty day simple moving average is $13.09 and its 200-day simple moving average is $13.24.

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

Insider Activity at Asana

In other Asana news, insider Eleanor B. Lacey sold 4,977 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Anne Raimondi sold 29,807 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $11.99, for a total value of $357,385.93. Following the transaction, the chief operating officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 44,092 shares of company stock worth $527,668 over the last 90 days. 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.