Asana (ASAN) AI Stock Analysis

• Market Cap: $3.22B
• Dividend Yield: N/A
• Average Volume (3M): 4.36M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.64
• Revenue Growth: 9.84%
• EPS Growth: 13.74%
• Country: US
• Employees: 1,819
• Sector: Technology
• Sector Strength: 84
• Industry: Software - Application
• EPS (TTM): 0.05
• Shares Outstanding: 155,760,510
• 10 Day Avg. Volume: 4,030,588
• 30 Day Avg. Volume: 4,358,565
• PEG Ratio: -1.36
• Price to Book (P/B): 13.20
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 210.54
• Enterprise Value/Market Cap: 0.99
• Enterprise Value/Revenue: 1.12
• Enterprise Value/Gross Profit: 4.83
• Enterprise Value/Ebitda: -3.54
• 1Y Price Target: $16.09
• Price Target Upside: 19.10% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 16

• Rating: 58 Neutral
• Price Target: $14.00 ▲(3.63%Upside)

Asana's overall stock score is driven by strong revenue growth and cash flow improvements, countered by ongoing profitability issues and bearish technical indicators. Positive corporate events and strategic initiatives in AI provide some optimism, but challenges in net retention and tech sector limits weigh on the score.

Positive Factors

Insider Activity

Insider buying by co-founder Dustin Moskovitz, who purchased over $50 million in shares, likely contributed to the stock's strong performance.

International Growth

International revenue accelerated to 14% YoY.

Strategic Deals

The signing of a $100mn+ TCV three-year renewal deal, the largest subscription agreement in the company’s history, speaks to the strategic value of Asana.

Negative Factors

Market Competition

Partner checks point to intensifying competition, with Asana losing market share to Monday.com and other private companies.

Revenue Growth

Revenue growth decelerated to 8.6% year-over-year with further deceleration expected.

Revenue Guidance

Management lowered the midpoint of revenue guidance to reflect incremental macro softness in the Enterprise segment.

Asana Business Overview & Revenue Model

Company Description

Asana, Inc., together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. The company's platform enables teams to orchestrate work from daily tasks to cross-functional strategic initiatives; and manages product launches, marketing campaigns, and organization-wide goal settings. It serves customers in industries, such as technology, retail, education, non-profit, government, healthcare, media, and financial services. The company was formerly known as Smiley Abstractions, Inc. and changed its name to Asana, Inc. in July 2009. Asana, Inc. was incorporated in 2008 and is headquartered in San Francisco, California.

How the Company Makes Money

Asana makes money primarily through a subscription-based revenue model. The company offers its platform on a tiered pricing structure, which includes Free, Premium, Business, and Enterprise plans. These plans provide varying levels of features and support depending on the needs of the customer. Revenue is generated from customers who subscribe to the Premium, Business, or Enterprise plans, with the Enterprise plan offering the most advanced features and customization options for larger organizations. Additionally, Asana may engage in partnerships and integrations with other technology providers to expand its ecosystem and enhance its service offerings, though these are not direct revenue streams. Key factors contributing to Asana's earnings include its ability to attract new users, retain existing customers, and upsell higher-tier plans to its user base.

Asana Financial Statement Overview

Summary

Asana shows strong revenue growth and improving cash flow metrics, with a significant increase in free cash flow. However, profitability challenges persist with negative net profit and EBIT margins, impacting return on equity.

Income Statement

Asana has demonstrated a strong revenue growth trajectory, with revenue increasing significantly over the years. The TTM revenue growth is robust at 13.2% compared to the previous year. However, the company continues to face profitability challenges with a negative net profit margin of -31.4% and an EBIT margin of -33.1% for the TTM. Despite high gross profit margins at 89.4%, the high operating expenses impact overall profitability.

Balance Sheet

The balance sheet shows moderate stability with a debt-to-equity ratio of 1.10, indicating a balanced approach to leveraging. The equity ratio stands at 26.9%, reflecting a moderate level of financial risk. However, the return on equity is negative at -98.1% due to ongoing net losses, highlighting profitability challenges that impact shareholder value.

Cash Flow

Asana's cash flow statement shows a positive trend with improving free cash flow and operating cash flow. The TTM free cash flow growth rate is 58.7%, indicating better cash generation capabilities. The operating cash flow to net income ratio is 0.10, suggesting improved cash conversion despite negative net income.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	738.70M	723.88M	652.50M	547.21M	378.44M	227.00M
Gross Profit	660.08M	646.68M	587.98M	490.65M	339.54M	198.26M
EBITDA	-204.86M	-229.54M	-235.03M	-388.22M	-256.72M	-154.12M
Net Income	-231.83M	-255.54M	-257.03M	-407.77M	-288.34M	-211.71M
Balance Sheet
Total Assets	877.13M	891.41M	961.96M	954.96M	707.03M	731.12M
Cash, Cash Equivalents and Short-Term Investments	470.80M	466.88M	519.46M	529.30M	312.03M	386.27M
Total Debt	259.25M	268.39M	277.88M	271.54M	255.61M	585.86M
Total Liabilities	640.83M	663.89M	635.56M	598.39M	503.19M	743.91M
Stockholders Equity	236.30M	227.52M	326.40M	356.57M	203.84M	-12.79M
Cash Flow
Free Cash Flow	14.84M	9.36M	-31.09M	-167.22M	-126.50M	-151.18M
Operating Cash Flow	23.59M	14.93M	-17.93M	-160.06M	-83.78M	-92.87M
Investing Cash Flow	19.41M	-6.13M	-289.13M	64.49M	27.56M	-158.94M
Financing Cash Flow	-73.56M	-58.09M	16.78M	381.39M	37.21M	201.00M

Asana Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.51
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASAN, the sentiment is Negative. The current price of 13.51 is below the 20-day moving average (MA) of 13.73, below the 50-day MA of 15.77, and below the 200-day MA of 16.46, indicating a bearish trend. The MACD of -0.78 indicates Negative momentum. The RSI at 38.32 is Neutral, neither overbought nor oversold. The STOCH value of 79.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ASAN.

Asana Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OPFI	78 Outperform	$1.18B	50.49	-47.39%	―	3.82%	-251.96%
FRSH	73 Outperform	$4.48B	―	-6.85%	―	20.46%	39.37%
FROG	68 Neutral	$4.88B	―	-10.47%	―	21.66%	-50.24%
ZETA	68 Neutral	$3.57B	―	-11.93%	―	40.36%	73.68%
Sector *	63 Neutral	$33.24B	5.92	-11.55%	1.90%	5.54%	-20.14%
GBTG	58 Neutral	$3.03B	―	-3.84%	―	4.82%	73.90%
ASAN	58 Neutral	$3.22B	―	-83.36%	―	9.84%	13.74%

Asana Corporate Events

Asana Announces New CEO Dan Rogers Appointment

On June 25, 2025, Asana announced the appointment of Dan Rogers as the new CEO, effective July 21, 2025, succeeding co-founder Dustin Moskovitz, who will remain as Board Chair. Rogers, with a strong background in leading high-growth technology companies, is expected to drive Asana’s next phase of growth and innovation, particularly in AI, as the company continues to be a major player in the enterprise work management industry.

The most recent analyst rating on (ASAN) stock is a Sell with a $14.00 price target. To see the full list of analyst forecasts on Asana stock, see the ASAN Stock Forecast page.

Asana Holds Annual Stockholders Meeting on June 16

On June 16, 2025, Asana, Inc. held its Annual Meeting of Stockholders, where three key proposals were voted on. Stockholders elected three Class II directors to serve until 2028, ratified PricewaterhouseCoopers LLP as the independent accounting firm for the fiscal year ending January 31, 2026, and approved the compensation of the company’s named executive officers. These decisions reflect the company’s ongoing governance and financial management strategies.

The most recent analyst rating on (ASAN) stock is a Sell with a $14.00 price target. To see the full list of analyst forecasts on Asana stock, see the ASAN Stock Forecast page.

Asana Expands Share Repurchase Program by $100 Million

On May 30, 2025, Asana‘s Board of Directors approved an increase to its share repurchase program, allowing for an additional $100 million in stock repurchases and removing the program’s expiration date. This move reflects Asana’s strategic financial management and commitment to enhancing shareholder value. In its first quarter fiscal 2026 results, Asana reported a significant financial turnaround with its first positive non-GAAP operating margin and a 9% increase in revenue year-over-year. The launch of AI Studio contributed over $1 million in ARR, showcasing Asana’s potential for long-term growth in AI innovation and strengthening its market position. The company also achieved notable customer growth and received several industry recognitions, highlighting its leadership in the digital workplace solutions sector.

The most recent analyst rating on (ASAN) stock is a Sell with a $14.00 price target. To see the full list of analyst forecasts on Asana stock, see the ASAN Stock Forecast page.

Asana Appoints Marc Boroditsky to Board of Directors

On April 16, 2025, Asana appointed Marc Boroditsky to its Board of Directors as a Class I director, expanding the board to nine members. Boroditsky, known for his expertise in scaling revenue operations at SaaS companies like Twilio and Cloudflare, is expected to contribute significantly to Asana’s growth as it advances its platform for AI and human coordination. His appointment is seen as a strategic move to enhance Asana’s market position and operational capabilities, leveraging his experience in transforming go-to-market strategies and driving enterprise sales growth.