Asana (NYSE:ASAN) Issues 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.

NYSE:ASAN traded up $0.12 during mid-day trading on Friday, reaching $46.06. The company’s stock had a trading volume of 64,659 shares, compared to its average volume of 1,442,224. Asana has a 1 year low of $20.57 and a 1 year high of $46.21. The business’s fifty day simple moving average is $33.67. The stock has a market capitalization of $7.51 billion and a price-to-earnings ratio of -30.99.

Asana (NYSE:ASAN) last released 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 analysts’ expectations of $70.14 million. During the same period last year, the company earned ($0.31) earnings per share. The firm’s revenue was up 60.7% compared to the same quarter last year. Research analysts predict that Asana will post -1.4 earnings per share for the current year.

Several analysts have commented on ASAN shares. Zacks Investment Research lowered shares of Asana from a hold rating to a sell rating in a research report on Wednesday. KeyCorp increased their price target on shares of Asana from $40.00 to $48.00 and gave the company an overweight rating in a research report on Friday, June 4th. JMP Securities increased their price target on shares of Asana from $40.00 to $50.00 and gave the company a market outperform rating in a research report on Friday, June 4th. They noted that the move was a valuation call. Robert W. Baird increased their price target on shares of Asana from $40.00 to $50.00 and gave the company an outperform rating in a research report on Thursday. Finally, Royal Bank of Canada upped their price objective on shares of Asana from $39.00 to $45.00 and gave the company an outperform rating in a report on Friday, June 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $38.54.

In other news, insider Eleanor B. Lacey sold 20,000 shares of the firm’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 owns 149,359 shares of the company’s stock, valued at approximately $5,984,815.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dustin A. Moskovitz acquired 250,000 shares of the company’s stock in a transaction dated Monday, June 7th. The shares were purchased at an average cost of $39.69 per share, for a total transaction of $9,922,500.00. Following the purchase, the chief executive officer now directly owns 836,561 shares in the company, valued at $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 worth $4,437,663 in the last ninety days. Corporate insiders own 54.43% of the company’s stock.

About Asana

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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