BofA analyst Michael Funk lowered the firm’s price target on Asana (ASAN) to $25 from $30 and keeps a Buy rating on the shares. Below consensus FY26 revenue guidance from Asana is “likely to feed the bears,” but potential upside to operating margin guidance, stabilizing-to-improving NRR in core customers and AI Studio optionality underpin the firm’s view that initial guidance reflects “a degree of conservatism,” the analyst tells investors. Following “a quarter of mostly in line results but softer guidance,” BofA is lowering FY26 and FY27 revenue estimates by 2.7% and 3.2%, respectively, the analyst added.
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