Asana, Inc. (NYSE:ASAN) receives an average target price of $61.75 from analysts

Asana, Inc. (NYSE:ASAN – Get Rating) has been assigned an average recommendation of “Hold” by the thirteen ratings companies that cover the stock, reports Marketbeat Ratings. One financial analyst rated the stock with a sell recommendation, five gave the company a hold recommendation and six gave the company a buy recommendation. The 12-month average price target among brokerages that have reported on the stock over the past year is $61.75.

A number of equity research analysts have recently released reports on the stock. Jefferies Financial Group cut its target price on Asana shares from $85.00 to $65.00 and placed a “hold” rating on the stock in a Thursday, Jan. 6 research note. Morgan Stanley cut its price target on Asana from $64.00 to $42.00 and set an “equal weight” rating on the stock in a Monday, March 14 research note. Zacks Investment Research downgraded Asana from a “buy” rating to a “hold” rating in a Thursday, March 10 report. Oppenheimer lowered his price target on Asana from $115.00 to $100.00 and set an “outperform” rating for the company in a Wednesday, Jan. 12, report. Finally, KeyCorp cut its price target on Asana from $97.00 to $61.00 and set an “overweight” rating for the stock in a Thursday, March 10 research note.

In other Asana news, CEO Dustin A. Moskovitz acquired 500,000 shares of Asana in a transaction dated Wednesday, January 19. The shares were acquired at an average cost of $54.30 per share, for a total transaction of $27,150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Dustin A. Moskovitz purchased 250,000 shares in a trade that took place on Friday, January 21. The shares were acquired at an average price of $51.62 per share, for a total transaction of $12,905,000.00. Disclosure of this purchase can be found here. In the past three months, insiders have bought 4,250,000 shares of the company worth $237,867,500 and sold 67,172 shares worth $3,506,757. Insiders hold 54.43% of the shares of the company.

Institutional investors and hedge funds have recently changed their positions in the stock. CAPROCK Group Inc. increased its position in Asana by 61.2% in the first quarter. CAPROCK Group Inc. now owns 7,496 shares of the company worth $300,000 after purchasing an additional 2,846 shares during the period. Diversified Trust Co increased its holdings of Asana shares by 39.6% in the first quarter. Diversified Trust Co now owns 26,910 shares of the company valued at $1,076,000 after purchasing an additional 7,627 shares during the period. Psagot Value Holdings Ltd. Israel bought a new position in Asana during the fourth quarter, valued at around $112,000. Norges Bank acquired a new position in Asana during the fourth quarter worth approximately $23,048,000. Finally, Walleye Capital LLC increased its position in Asana by 20.9% in the fourth quarter. Walleye Capital LLC now owns 19,610 shares of the company worth $1,462,000 after acquiring 3,387 additional shares in the last quarter. Hedge funds and other institutional investors hold 31.09% of the company’s shares.

ASAN stock opened at $35.69 on Monday. The stock’s 50-day moving average is $47.37 and its two-hundred-day moving average is $77.16. Asana has a 52-week minimum of $26.00 and a 52-week maximum of $145.79. The company has a debt ratio of 0.17, a quick ratio of 1.61 and a current ratio of 1.61.

Asana (NYSE:ASAN – Get Rating) last released its quarterly results on Wednesday, March 9. The company reported ($0.48) earnings per share for the quarter, missing analyst consensus estimates of ($0.43) by ($0.05). The company posted revenue of $111.95 million for the quarter, versus analyst estimates of $105.18 million. Asana had a negative return on equity of 158.77% and a negative net margin of 76.19%. The company’s quarterly revenue increased by 63.7% compared to the same quarter last year. During the same period of the previous year, the company posted an EPS of ($0.32). As a group, equity research analysts expect Asana to post EPS of -2.15 for the current fiscal year.

About Asana (Get a rating)

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leaders, and executives in the United States and globally. It provides a software-as-a-service work management platform that enables individuals and teams to work faster while improving employee engagement by allowing everyone to see how their work relates to the mission of an organization.

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Analyst Recommendations for Asana (NYSE:ASAN)

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Eleanor C. William