KeyBanc analyst Jackson Ader lowered the firm’s price target on Asana (ASAN) to $15 from $18 and keeps an Overweight rating on the shares. The firm notes that when it upgraded Asana in December, KeyBanc expected stabilization in the low-end funnel, the tech sector, and AI products to potentially accelerate revenue growth. Management is seeing these things play out, just not to the extent needed to lift the overall business, leading, broadly, to a disappointing outlook for next year.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ASAN:
- Asana price target lowered to $9 from $16 at Baird
- Asana price target lowered to $14 from $17 at BofA
- Asana: Growth Deceleration, Murky AI Monetization, and Premium Valuation Support Underweight Rating
- Asana: Strengthening Fundamentals and Attractive Valuation Support Buy Rating Despite Lowered $14 Target
- Asana price target lowered to $13 from $16 at Citi