BofA lowered the firm’s price target on Asana (ASAN) to $21 from $23 and keeps a Buy rating on the shares after the company reported “solid” Q1 results, but management lowered the midpoint of revenue guidance by 0.4% to reflect incremental macro softness in the Enterprise segment. The firm, which revised estimates to reflect results and guidance, says profitability progress was “impressive and ahead of Street expectations, supporting the accelerating margin expansion bull case.”
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Read More on ASAN:
- Asana price target raised to $14 from $13 at JPMorgan
- Asana price target raised to $19 from $17 at Piper Sandler
- Asana’s Strategic Growth Amid Macroeconomic Challenges: Buy Rating Affirmed by Michael Funk
- Asana’s Challenging Financial Outlook: Sell Rating Amid Revenue Downgrade and Market Uncertainties
- Asana price target raised to $17 from $15 at Jefferies
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