What's Going On With Asana Shares Wednesday?

Asana, Inc. ASAN stock is trading lower on Wednesday after the company reported 2025 fiscal year second quarter results on Tuesday and issued third quarter guidance below estimates.

The Details: The company reported a loss of five cents beating analysts estimate of a loss of eight cents per share and sales of $179.21 million beating analysts estimate of $177.65 million.

Asana reported that the number of Core customers, that is customers spending $5,000 or more on an annualized basis, grew to 22,948 during the quarter. Furthermore, revenue from these customers grew 11% year-over-year. In addition, customers spending $100,000 or more on an annualized basis grew to 649. This represents a 17% year-over-year growth.

“We’re at a pivotal moment where AI has enormous potential to revolutionize work management. We are clearly moving in the right direction and are well-positioned to capitalize on the consolidation opportunity in the enterprise market,” said Dustin Moskovitz, co-founder and CEO of Asana.

Guidance: The company issued guidance for the third quarter and the 2025 fiscal year.

• Q3: Asana expects revenue between $180 million and $181 million versus analysts estimate of $182.28 million and a loss of seven cents per share versus analysts estimate of a loss of four cents per share.
• FY25: The company expects revenue between $719 million and $721 million versus analysts estimate of $722.85 million. Also, Asana expects a loss of 20 to 19 cents per share versus analysts estimate of a loss of 20 cents per share.

Analyst Changes: Following the earnings report, several analysts issued price target adjustments.

• RBC Capital analyst Rishi Jaluria reiterated an Underperform rating on Asana and maintained a $10 price target.
• Oppenheimer analyst Ittai Kidron maintained a Outperform rating on Asana and lowered the price target from $23 to $20.
• UBS analyst Taylor McGinnis maintained a Neutral rating on Asana and lowered the price target from $17 to $13.

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ASAN Price Action: As of Wednesday morning, Asan shares are trading 7.07% lower at $12.35, according to data from Benzinga Pro.

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