Asana (NYSE: ASAN – Get Rating) issued an update on its second quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of – $ 0.39 – $ 0.38 for the period, compared to the consensus estimate of – $ 0.32. The company issued revenue guidance of $ 127.00 million- $ 128.00 million, compared to the consensus revenue estimate of $ 125.31 million. Asana also updated its FY 2023 guidance to EPS.
Shares of NYSE: ASAN opened at $ 18.21 on Thursday. The firm’s 50 day moving average is $ 23.67 and its two-hundred day moving average is $ 44.30. Asana has a 52 week low of $ 16.20 and a 52 week high of $ 145.79. The firm has a market capitalization of $ 3.46 billion, a P / E ratio of -10.29 and a beta of 1.95. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.21.
Asana (NYSE: ASAN – Get Rating) last posted its quarterly earnings data on Thursday, June 2nd. The company reported ($ 0.30) EPS for the quarter, beating analysts’ consensus estimates of ($ 0.36) by $ 0.06. Asana had a negative net margin of 77.31% and a negative return on equity of 144.13%. The business had revenue of $ 120.65 million for the quarter, compared to analyst estimates of $ 115.11 million. During the same quarter last year, the business earned ($ 0.31) earnings per share. The business’s revenue for the quarter was up 57.4% on a year-over-year basis. Analysts predict that Asana will post -2.15 EPS for the current year.
A number of research analysts recently commented on ASAN shares. Morgan Stanley lowered their price objective on shares of Asana from $ 38.00 to $ 35.00 and set an equal weight rating on the stock in a research note on Friday, June 3rd. Piper Sandler lowered their price objective on shares of Asana from $ 55.00 to $ 35.00 and set an overweight rating on the stock in a research note on Friday, June 3rd. Robert W. Baird lowered their price objective on shares of Asana from $ 65.00 to $ 31.00 and set an outperform rating on the stock in a research note on Friday, June 3rd. KeyCorp lowered their price objective on shares of Asana from $ 97.00 to $ 61.00 and set an overweight rating on the stock in a research note on Thursday, March 10th. Finally, Royal Bank of Canada reduced their target price on shares of Asana from $ 60.00 to $ 38.00 and set a sector perform rating on the stock in a research report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $ 46.50.
In other Asana news, insider Eleanor B. Lacey sold 4,167 shares of Asana stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $ 27.00, for a total transaction of $ 112,509.00. Following the completion of the sale, the insider now owns 165,076 shares of the company’s stock, valued at approximately $ 4,457,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eleanor B. Lacey sold 8,333 shares of Asana stock in a transaction on Friday, April 1st. The shares were sold at an average price of $ 40.40, for a total transaction of $ 336,653.20. The disclosure for this sale can be found here. Insiders sold a total of 16,667 shares of the company’s stock valued at $ 572,089 in the last ninety days. Company insiders own 54.43% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC raised its holdings in shares of Asana by 164.5% during the 1st quarter. Advisory Services Network LLC now owns 23,428 shares of the company’s stock valued at $ 936,000 after purchasing an additional 14,572 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of Asana during the 1st quarter valued at $ 897,000. Panagora Asset Management Inc. raised its holdings in shares of Asana by 170.0% during the 1st quarter. Panagora Asset Management Inc. now owns 14,596 shares of the company’s stock valued at $ 583,000 after purchasing an additional 9,191 shares in the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of Asana during the 1st quarter valued at $ 441,000. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Asana during the 1st quarter valued at $ 426,000. Institutional investors and hedge funds own 92.50% of the company’s stock.
About Asana (Get Rating)
Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company’s platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings.
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