Asana (ASAN) to Release Earnings on Thursday

Asana (NYSE:ASAN) will be issuing its quarterly earnings data after the market closes on Thursday, December 5th. Analysts expect the company to announce earnings of ($0.07) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Asana (NYSE:ASAN) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $179.21 million for the quarter, compared to the consensus estimate of $177.68 million. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. Asana’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) earnings per share. 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

NYSE:ASAN opened at $15.15 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63. Asana has a one year low of $11.05 and a one year high of $23.44. The company has a fifty day moving average price of $12.76 and a 200 day moving average price of $13.25. The stock has a market cap of $3.46 billion, a P/E ratio of -13.17 and a beta of 1.13.

Insider Transactions at Asana

In other news, COO Anne Raimondi sold 29,807 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $11.99, for a total value of $357,385.93. Following the sale, the chief operating officer now owns 761,088 shares of the company’s stock, 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 available through the SEC website. Also, insider Eleanor B. Lacey sold 4,977 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $11.79, for a total transaction of $58,678.83. Following the completion of the sale, the insider now directly owns 370,333 shares in the company, valued at approximately $4,366,226.07. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,092 shares of company stock valued at $527,668. 63.97% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ASAN. JPMorgan Chase & Co. reduced their target price on shares of Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a research note on Wednesday, September 4th. Oppenheimer reduced their price objective on Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. DA Davidson lifted their price objective on Asana from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Piper Sandler cut their target price on Asana from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Finally, JMP Securities decreased their price target on shares of Asana from $27.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Asana presently has an average rating of “Hold” and an average price target of $14.27.

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. 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.