Asana (NYSE:ASAN) Releases FY 2022 Earnings Guidance

Asana (NYSE:ASAN) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $336 million-340 million, compared to the consensus revenue estimate of $312.24 million.Asana also updated its Q2 2022 guidance to $-0.270–0.260 EPS.

ASAN traded up $4.79 during midday trading on Thursday, hitting $45.94. The company had a trading volume of 5,462,541 shares, compared to its average volume of 1,442,224. Asana has a 52 week low of $20.57 and a 52 week high of $46.21. The stock has a market cap of $7.49 billion and a P/E ratio of -31.04. The stock’s 50 day simple moving average is $33.67.

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

ASAN has been the subject of several recent research reports. Wolfe Research initiated coverage on shares of Asana in a research report on Wednesday, April 28th. They set an outperform rating and a $40.00 target price for the company. Piper Sandler boosted their price target on shares of Asana from $45.00 to $52.00 and gave the stock an overweight rating in a report on Friday, June 4th. Jefferies Financial Group cut their price target on shares of Asana from $40.00 to $35.00 and set a buy rating on the stock in a report on Tuesday, May 18th. They noted that the move was a valuation call. Robert W. Baird boosted their price target on shares of Asana from $40.00 to $50.00 and gave the stock an outperform rating in a report on Thursday. Finally, Morgan Stanley boosted their price target on shares of Asana from $34.00 to $37.00 and gave the stock an equal weight rating in a report on Friday, June 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Asana has a consensus rating of Buy and an average price target of $38.54.

In related news, insider Eleanor B. Lacey sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $40.07, for a total transaction of $801,400.00. Following the sale, the insider now directly owns 149,359 shares in the company, valued at approximately $5,984,815.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lorrie M. Norrington purchased 6,200 shares of the company’s stock in a transaction that occurred on Friday, March 12th. The shares were acquired at an average price of $32.12 per share, for a total transaction of $199,144.00. Following the completion of the purchase, the director now directly owns 66,955 shares in the company, valued at approximately $2,150,594.60. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 159,716 shares of company stock worth $5,270,142. Corporate 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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