Asana Gets Price Target Bumps By Analysts Following Upbeat Results

Asana, Inc. ASAN reported better-than-expected Q4 results and issued strong forecast for the current quarter.

The company reported quarterly revenue of $150.23 million, which topped estimates of $145.07 million. The company posted a loss of 15 cents per share, beating estimates for a loss of 27 cents per share.

Asana said it sees first-quarter revenue to be between $150 million and $151 million versus estimates of $149.97 million. The company expects a first-quarter loss between 18 and 19 cents per share versus estimates for a loss of 23 cents per share

Asana shares gained 17.1% to $20.84 in today’s pre-market trading session.

These analysts made changes to their price targets on Asana following the release of results.

• Piper Sandler raised the price target on Asana from $13 to $24. Piper Sandler analyst Brent Bracelin maintained a Neutral rating.
• JMP Securities increased the price target on Asana from $21 to $28. JMP Securities analyst Patrick Walravens maintained an Outperform rating.
• Baird boosted the price target on Asana from $15 to $20. Baird analyst Rob Oliver maintained a Neutral rating.
• DA Davidson raised the price target on Asana from $18 to $21. DA Davidson analyst Robert Simmons upgraded the stock from Neutral to Buy.
• Oppenheimer boosted the price target on Asana from $25 to $28. Oppenheimer analyst George Iwanyc maintained the stock with an Outperform rating.

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