Asana price target lowered to $9 from $16 at UBS

UBS lowered the firm’s price target on Asana (ASAN) to $9 from $16 and keeps a Neutral rating on the shares. Quarterly results appeared modest, but commentary was more encouraging, showing stabilized tech vertical annual recurring revenue, sequential Dollar-Based Retention Rate improvement, and SMB/self-service top-of-funnel recovery, the analyst tells investors in a research note. While FY27 guidance assumes headwinds from slower self-service and potential tech vertical softness, if Q4 trends persist, revenue growth could be more durable, though AI-related contributions remain early, leaving concerns largely unaddressed for now, UBS says.