Asana (ASAN) to Release Quarterly Earnings on Tuesday

Posted by Defense World Staff on Aug 29th, 2023

Asana (NYSE:ASAN – Get Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Tuesday, September 5th. Analysts expect Asana to post earnings of ($0.11) per share for the quarter. Asana has set its Q2 guidance at $(0.12)-$(0.11) EPS and its FY24 guidance at $(0.55)-$(0.50) EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Asana (NYSE:ASAN – Get Free Report) last issued its earnings results on Thursday, June 1st. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.09. Asana had a negative return on equity of 121.25% and a negative net margin of 63.97%. The company had revenue of $152.41 million during the quarter, compared to the consensus estimate of $150.55 million. During the same quarter in the prior year, the business earned ($0.52) earnings per share. The company’s revenue was up 26.3% compared to the same quarter last year. On average, analysts expect Asana to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Asana Price Performance

Shares of NYSE ASAN opened at $21.20 on Tuesday. Asana has a 1-year low of $11.32 and a 1-year high of $28.92. The business has a 50-day moving average of $22.09 and a 200-day moving average of $20.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of -11.78 and a beta of 1.21.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ASAN shares. Oppenheimer upped their target price on Asana from $25.00 to $28.00 in a research report on Friday, June 2nd. DA Davidson downgraded Asana from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research report on Friday, June 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $30.00 target price on shares of Asana in a research report on Wednesday, August 23rd. Finally, Citigroup upped their target price on Asana from $24.00 to $26.00 in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.48.

Get Our Latest Analysis on Asana

Insiders Place Their Bets

In other Asana news, CFO Tim M. Wan sold 20,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $25.88, for a total transaction of $517,600.00. Following the transaction, the chief financial officer now owns 801,886 shares of the company’s stock, valued at approximately $20,752,809.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Asana news, CFO Tim M. Wan sold 20,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $25.88, for a total transaction of $517,600.00. Following the transaction, the chief financial officer now owns 801,886 shares of the company’s stock, valued at approximately $20,752,809.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lorrie M. Norrington sold 6,200 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $25.01, for a total value of $155,062.00. Following the transaction, the director now directly owns 107,736 shares in the company, valued at approximately $2,694,477.36. The disclosure for this sale can be found here. In the last quarter, insiders have bought 1,467,500 shares of company stock valued at $31,516,950 and have sold 359,959 shares valued at $8,933,088. 63.26% of the stock is currently owned by company insiders.

Institutional Trading of Asana

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Asana by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,857,364 shares of the company’s stock worth $152,440,000 after purchasing an additional 148,214 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Asana by 5.5% in the 1st quarter. BlackRock Inc. now owns 6,723,586 shares of the company’s stock worth $142,069,000 after purchasing an additional 352,684 shares during the last quarter. State Street Corp raised its stake in Asana by 8.0% during the 2nd quarter. State Street Corp now owns 2,211,225 shares of the company’s stock valued at $48,735,000 after acquiring an additional 163,281 shares in the last quarter. Renaissance Technologies LLC raised its stake in Asana by 26.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,577,500 shares of the company’s stock valued at $63,053,000 after acquiring an additional 331,400 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Asana by 8.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,514,970 shares of the company’s stock valued at $33,390,000 after acquiring an additional 121,022 shares in the last quarter. Institutional investors own 26.21% of the company’s stock.

About Asana

(Get Free Report)

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; and manages product launches, marketing campaigns, and organization-wide goal settings.