Asana price target lowered to $15 from $17 at DA Davidson

DA Davidson lowered the firm’s price target on Asana (ASAN) to $15 from $17 and keeps a Neutral rating on the shares. The company’s Q3 results beat top and bottom line expectations, with net retention rates having improved sequentially across all cohorts, the analyst tells investors in a research note. While the firm sees potential upside to revenue from AI Studio in FY27, it is also on the sidelines given heavy competition around agents and continued uncertainty with upcoming renewals, DA Davidson added.