Asana (NYSE:ASAN) Issues Q2 2022 Earnings Guidance

Asana (NYSE:ASAN) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $-0.270–0.260 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.270. The company issued revenue guidance of $81 million-83 million, compared to the consensus revenue estimate of $74.07 million.Asana also updated its FY 2022 guidance to $- EPS.

NYSE ASAN traded up $0.36 during midday trading on Friday, hitting $46.30. 67,251 shares of the company traded hands, compared to its average volume of 1,442,224. The stock has a market capitalization of $7.55 billion and a P/E ratio of -30.99. The firm has a 50-day simple moving average of $33.67. Asana has a 52 week low of $20.57 and a 52 week high of $46.21.

Asana (NYSE:ASAN) last posted its quarterly earnings data on Wednesday, June 2nd. The company reported ($0.21) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.06. The business had revenue of $76.67 million during the quarter, compared to analyst estimates of $70.14 million. The firm’s revenue for the quarter was up 60.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) EPS. As a group, equities analysts predict that Asana will post -1.4 EPS for the current fiscal year.

A number of analysts have recently weighed in on ASAN shares. Morgan Stanley raised their price objective on Asana from $34.00 to $37.00 and gave the stock an equal weight rating in a research report on Friday, June 4th. Zacks Investment Research cut Asana from a hold rating to a sell rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on Asana from $39.00 to $45.00 and gave the stock an outperform rating in a research report on Friday, June 4th. KeyCorp raised their price objective on Asana from $40.00 to $48.00 and gave the stock an overweight rating in a research report on Friday, June 4th. Finally, Jefferies Financial Group lowered their price target on Asana from $40.00 to $35.00 and set a buy rating for the company in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Asana has a consensus rating of Buy and an average price target of $38.54.

In other Asana news, insider Eleanor B. Lacey sold 21,500 shares of Asana stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $32.84, for a total transaction of $706,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dustin A. Moskovitz acquired 250,000 shares of Asana stock in a transaction on Monday, June 7th. The shares were bought at an average price of $39.69 per share, with a total value of $9,922,500.00. Following the purchase, the chief executive officer now directly owns 836,561 shares in the company, valued at approximately $33,203,106.09. The disclosure for this purchase can be found here. Insiders have sold a total of 133,644 shares of company stock valued at $4,437,663 in the last quarter. Company insiders own 54.43% 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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Earnings History and Estimates for Asana (NYSE:ASAN)

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