Asana (ASAN) shares were down more than 28% in recent Tuesday trading after the company's fiscal Q1 and fiscal 2026 guidance missed estimates and multiple analysts cut their price targets.
The company said it expects fiscal Q1 revenue of $184.5 million to $186.5 million and fiscal year 2026 revenue of $782 million to $790 million. Analysts polled by FactSet expect $190.8 million for fiscal Q1 and $803.5 million for fiscal 2026.
UBS and DA Davidson cut their price targets for the company to $14 from $18 and $12 from $20, respectively, while maintaining a neutral rating on the stock.
Scotiabank also maintained a sector perform rating and cut its price target to $12 from $18.
Price: 11.92, Change: -4.76, Percent Change: -28.54
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