Asana upbeat Q2 lifts guidance; analysts raise forecasts and targets

Asana Inc (NYSE: ASAN ) reported upbeat second-quarter results and issued soft third-quarter guidance on Thursday.

Asana reported second-quarter revenue of $216.43 million, beating analyst estimates of $214.12 million, according to Pro.

The company reported adjusted earnings of 10 cents per share, beating estimates of nine cents per share. "Our core business continues to strengthen, with improving retention, accelerating growth in our upmarket motion and broad-based momentum across industries and geographies," said Dan Rogers, CEO of Asana.

Asana guided for third-quarter revenue of $217 million to $219 million versus estimates of $218.16 million, and adjusted earnings of eight cents per share versus estimates of nine cents per share.

Asana raised its full-year revenue guidance to a range of $858.5 million to $863.5 million versus estimates of $860.90 million.

The company reaffirmed its full-year adjusted earnings outlook of 37 cents per share, in line with estimates.

Asana shares dipped 14% to trade at $8.68 on Friday.

These analysts made changes to their price targets on Samsara following earnings announcement.

Piper Sandler analyst Billy Fitzsimmons maintained the stock with a Neutral and raised the price target from $7 to $9.

UBS analyst Taylor McGinnis maintained the stock with a Neutral and raised the price target from $8 to $10.

RBC Capital analyst Rishi Jaluria maintained the stock with a Sector Perform and raised the price target from $8 to $9.5.

Baird analyst Rob Oliver maintained the stock with a Neutral and raised the price target from $9 to $10.

DA Davidson analyst Lucky Schreiner maintained the stock with a Neutral and raised the price target from $8 to $9.

Considering buying ASAN stock? Here’s what analysts think: Photo via Shutterstock