Asana Likely To Report Narrower Q4 Loss; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
Portfolio Pulse from Avi Kapoor
Asana, Inc. (NYSE:ASAN) is anticipated to report a narrower Q4 loss of 10 cents per share compared to last year's 15 cents, with revenue expected at $167.68 million, up from $150.23 million. Following better-than-expected Q3 results, ASAN shares rose 1.1%. Analysts have updated their ratings, with Piper Sandler maintaining an Underweight rating but raising the price target to $18, Morgan Stanley maintaining an Equal-Weight rating with a price target cut to $21, HSBC downgrading to Reduce with an $18 target, and Citigroup maintaining a Neutral rating with a target cut to $20.
March 08, 2024 | 10:54 am
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POSITIVE IMPACT
Asana is expected to report a narrower Q4 loss and increased revenue, indicating potential positive momentum. Analyst ratings show mixed views but generally suggest cautious optimism.
The expected improvement in Q4 earnings and revenue for Asana suggests potential positive momentum for the stock. However, the mixed analyst ratings, with some maintaining or lowering price targets, indicate a cautious optimism among investors. The recent 1.1% stock price increase post-Q3 results further supports the potential for short-term positive impact, but investor sentiment will likely be influenced by the actual Q4 results and future guidance.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100