Asana (NYSE:ASAN) Price Target Raised to $115.00

Asana (NYSE:ASAN) had its price objective hoisted by equities research analysts at Jefferies Financial Group from $90.00 to $115.00 in a research note issued on Monday, The Fly reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective points to a potential upside of 7.98% from the company’s previous close.

Other equities analysts have also issued research reports about the company. FBN Securities began coverage on Asana in a research note on Thursday, July 22nd. They set an “outperform” rating and a $80.00 target price on the stock. Royal Bank of Canada increased their target price on Asana from $70.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 2nd. They noted that the move was a valuation call. Oppenheimer increased their price target on Asana from $77.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, September 2nd. KeyCorp increased their price target on Asana from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 2nd. Finally, Piper Sandler increased their price target on Asana from $52.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, September 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $65.79.

ASAN opened at $106.50 on Monday. The stock’s 50-day moving average price is $76.87 and its 200 day moving average price is $51.52. Asana has a 12-month low of $20.57 and a 12-month high of $107.10. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $19.59 billion and a price-to-earnings ratio of -58.84.

Asana (NYSE:ASAN) last posted its earnings results on Tuesday, August 31st. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. Asana had a negative return on equity of 288.11% and a negative net margin of 89.91%. The firm had revenue of $89.50 million for the quarter, compared to analyst estimates of $82.26 million. The business’s revenue was up 72.1% on a year-over-year basis. On average, research analysts forecast that Asana will post -1.44 earnings per share for the current year.

In related news, insider Eleanor B. Lacey sold 15,600 shares of the firm’s stock in a transaction that occurred on Friday, June 18th. The stock was sold at an average price of $55.00, for a total transaction of $858,000.00. Following the transaction, the insider now owns 144,959 shares in the company, valued at approximately $7,972,745. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dustin A. Moskovitz purchased 250,000 shares of the company’s stock in a transaction that occurred on Friday, September 10th. The shares were purchased at an average price of $99.84 per share, for a total transaction of $24,960,000.00. Following the purchase, the chief executive officer now directly owns 3,967,591 shares in the company, valued at $396,124,285.44. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,460,000 shares of company stock worth $106,409,700 and sold 136,632 shares worth $9,280,818. Corporate insiders own 54.43% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ASAN. Commonwealth Equity Services LLC grew its stake in shares of Asana by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,523 shares of the company’s stock valued at $528,000 after purchasing an additional 139 shares during the last quarter. Close Asset Management Ltd grew its stake in shares of Asana by 29.6% in the 2nd quarter. Close Asset Management Ltd now owns 1,335 shares of the company’s stock valued at $83,000 after purchasing an additional 305 shares during the last quarter. Botty Investors LLC grew its stake in shares of Asana by 26.8% in the 1st quarter. Botty Investors LLC now owns 2,406 shares of the company’s stock valued at $69,000 after purchasing an additional 508 shares during the last quarter. Allen Investment Management LLC grew its stake in shares of Asana by 9.7% in the 1st quarter. Allen Investment Management LLC now owns 8,897 shares of the company’s stock valued at $254,000 after purchasing an additional 787 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Asana by 5.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 17,381 shares of the company’s stock valued at $1,078,000 after purchasing an additional 935 shares during the last quarter. Hedge funds and other institutional investors own 33.87% of the company’s stock.

Asana Company Profile

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

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