Asana (ASAN) PT Lowered to $22 at Citizens JMP

Citizens JMP analyst Patrick Walravens lowered the price target on Asana (NYSE: ASAN) to $22.00 (from $25.00) while maintaining a Market Outperform rating.

The analyst commented, "We maintain our Market Outperform rating on Asana but reduce our price target to $22 from $25 after it reported better-than-expected F4Q25 results but a weak FY26 outlook, with non-GAAP EPS of ($0.00) (consensus ($0.01)); a negative 0.9% operating margin, up from negative 4.1% last quarter, on revenue of $188M (consensus $188M), up 10% y/y, flat with last quarter; dollar-based net retention of 96% (Citizens' estimate 97%), flat with 96% last quarter; billings of $209M versus the consensus of $206M, up 12% y/y; and RPO growth of 23%, which beat the consensus of 17% (although the metric does not reflect monthly billings, which represents around one-third of the business)."

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