Wall Street analysts expect Asana, Inc. (NYSE:ASAN) to report earnings per share (EPS) of ($0.28) for the current quarter, Zacks reports. Five analysts have released earnings estimates for Asana. The lowest EPS estimate is ($0.28) and the highest is ($0.27). Asana posted earnings per share of ($0.22) in the same quarter last year, indicating a negative 27.3% year-over-year growth rate. The company is expected to release its next results after the market closes on Wednesday, March 9.
According to Zacks, analysts expect Asana to report annual earnings of $0.96 per share for the current fiscal year, with EPS estimates ranging from $0.96 to $0.95. For the next fiscal year, analysts expect the company to post earnings of ($0.99) per share, with EPS estimates ranging from ($1.05) to ($0.92). Zacks’ earnings per share calculations are an average based on a survey of sell-side research companies that track Asana.
Asana Inc (NYSE:ASAN) last announced its results on Thursday, December 2. The company reported ($0.23) earnings per share (EPS) for the quarter, beating Thomson Reuters consensus estimate of ($0.27) by $0.04. Asana had a negative net margin of 77.59% and a negative return on equity of 199.15%. The company posted revenue of $100.30 million for the quarter, versus analyst estimates of $93.90 million. In the same quarter last year, the company made ($0.42) earnings per share. The company’s revenue for the quarter increased by 70.3% compared to the same quarter last year.
A number of research companies have weighed in on ASAN recently. Jefferies Financial Group lowered its price target on Asana shares from $85.00 to $65.00 and set a “hold” rating on the stock in a Thursday, Jan. 6 research report. Royal Bank of Canada reissued a “hold” rating and issued a $75.00 price target on Asana shares in a research note on Sunday, December 5. Zacks Investment Research moved Asana shares from a “sell” rating to a “buy” rating and set a price target of $59.00 on the stock in a research note on Wednesday. KeyCorp cut its price target on Asana shares from $103.00 to $97.00 and set an “overweight” rating on the stock in a Friday, Jan. 14 research note. Finally, Morgan Stanley cut its price target on Asana shares from $151.00 to $80.00 and set an “equal weight” rating on the stock in a Monday, Dec. 13 research note. Five investment analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat, Asana currently has an average rating of “Buy” and a consensus target price of $79.62.
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In other Asana news, CEO Dustin A. Moskovitz acquired 250,000 shares in a deal that took place on Tuesday, November 23. The shares were purchased at an average cost of $100.00 per share, with a total value of $25,000,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Additionally, Chief Financial Officer Tim M. Wan sold 20,000 shares in a trade dated Monday, November 22. The shares were sold at an average price of $128.94, for a total transaction of $2,578,800.00. The disclosure of this sale can be found here. Over the past 90 days, insiders have purchased 6,003,733 shares of the company worth $400,770,782 and sold 112,440 shares worth $9,004,721. 54.43% of the shares are currently held by company insiders.
Several institutional investors have recently increased or reduced their stake in ASAN. Whittier Trust Co. acquired a new equity stake in Asana during Q3 for a value of approximately $27,000. MFA Wealth Advisors LLC acquired a new equity stake in Asana during Q3 worth approximately $27,000. Bellwether Advisors LLC acquired a new stake in Asana stock during Q4 worth approximately $28,000. Northwestern Mutual Wealth Management Co. acquired a new equity stake in Asana during Q4 worth approximately $36,000. Finally, Rockefeller Capital Management LP increased its stake in Asana shares by 133.1% during the third quarter. Rockefeller Capital Management LP now owns 415 shares of the company worth $43,000 after buying 237 more shares in the last quarter. 30.38% of the shares are currently held by institutional investors.
Shares of NYSE ASAN traded at $0.77 during Friday trading, hitting $46.83. The company had a trading volume of 116,768 shares, compared to an average volume of 4,320,896. The stock has a fifty-day simple moving average of $67.86 and a two-hundred-day simple moving average of 90.23 $. Asana has a fifty-two week minimum of $25.41 and a fifty-two week maximum of $145.79. The company has a market capitalization of $8.73 billion, a price-earnings ratio of -30.61 and a beta of 1.61. The company has a quick ratio of 1.87, a current ratio of 1.87 and a leverage ratio of 0.14.
About Asana
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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