Asana, Inc. (ASAN) reports third-quarter earnings after the close on Tuesday, December 2, and Wall Street's most accurate analysts have been adjusting their forecasts heading into the print.
The San Francisco-based work management software company is expected to swing to a profit of 6 cents per share, compared to a loss of 2 cents per share in the year-ago quarter. On the revenue side, analysts are projecting $198.78 million for the quarter, representing growth from $183.88 million in the prior-year period.
Context matters here. Back on September 3, Asana delivered second-quarter results that topped expectations and management raised guidance for fiscal 2026. That's the kind of momentum investors like to see heading into an earnings report, though the stock closed Monday at $12.77, down 0.9% on the day.
So what are the analysts with the best track records saying? Here's the breakdown of recent ratings from Benzinga's most accurate analysts:
Morgan Stanley's Josh Baer, who maintains a 62% accuracy rate, kept his Underweight rating but bumped his price target from $13 to $14 on September 4. Not exactly a ringing endorsement, but he's acknowledging some upward movement.
Piper Sandler's Brent Bracelin is considerably more bullish. With a 72% accuracy rate, he maintained his Overweight rating and set a $19 price target on September 4, suggesting he sees meaningful upside from current levels.
JMP Securities' Patrick Walravens, sporting a 60% accuracy rate, kept his Market Outperform rating but trimmed his price target from $25 to $22 back on June 4. Still optimistic, but moderating expectations.
Jefferies analyst Brent Thill, who boasts the highest accuracy rate of the group at 75%, maintained a Hold rating while raising his price target from $15 to $17 on June 4. His track record makes this neutral stance particularly noteworthy.
Keybanc's Jackson Ader, with a 67% accuracy rate, stuck with his Sector Weight rating on June 4.
The analyst community clearly hasn't reached consensus on where Asana goes from here, with price targets spanning from $14 to $22 and opinions ranging from cautious to bullish. Tuesday's earnings report should provide some clarity on whether the company can maintain the momentum from last quarter's beat and raised guidance.
