Asana (NYSE:ASAN) Updates Q4 Earnings Guidance

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

NYSE:ASAN opened at $22.20 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $13.17 and a 200-day moving average of $13.25. Asana has a 52 week low of $11.05 and a 52 week high of $22.54.

Asana (NYSE:ASAN) last released its quarterly earnings data 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 return on equity of 81.88% and a negative net margin of 37.73%. The company had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. During the same period in the previous year, the business earned ($0.31) earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. As a group, research analysts forecast that Asana will post -1.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ASAN shares. JMP Securities upped their price target on Asana from $21.00 to $25.00 and gave the company a “market outperform” rating in a research report on Friday. Oppenheimer upped their price target on shares of Asana from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday. Scotiabank increased their price target on shares of Asana from $15.00 to $18.00 and gave the company a “sector perform” rating in a research note on Friday. Robert W. Baird lifted their target price on Asana from $13.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday. Finally, 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 note on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Asana has an average rating of “Hold” and an average target price of $16.53.

Insider Activity

In other Asana news, COO Anne Raimondi sold 29,807 shares of the stock in a transaction dated Friday, September 20th. The stock was 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 in the company, valued at approximately $9,125,445.12. This represents a 3.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eleanor B. Lacey sold 9,308 shares of Asana stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $111,602.92. Following the completion of the sale, the insider now directly owns 375,310 shares in the company, valued at $4,499,966.90. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,092 shares of company stock worth $527,668 in the last 90 days. Corporate 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.