Analysts Just Trimmed Price Targets for These 5 Stocks

02. Asana, Inc. (NYSE:ASAN)

Price Reaction after the Price Target Cut: -2.85 (-13.17%)

On September 6, Morgan Stanley made a target adjustment for Asana, Inc. (NYSE:ASAN). The previous target of $24.00 has been revised down to $23.00, representing a decrease of approximately 4.2%. Additionally, the analyst has maintained the stock’s rating at “Equal Weight.” This update from Morgan Stanley indicates a slight shift in their outlook for Asana, Inc. (NYSE:ASAN). While the new target still suggests some potential upside from the current market price of $18.79, the lower target price reflects a slightly more cautious stance than the previous assessment.

Diamond Hill Capital made the following comment about Asana, Inc. (NYSE:ASAN) in its Q3 2022 investor letter:

“Work management software company Asana, Inc. (NYSE:ASAN) has, in our view, a relatively undifferentiated and discretionary software product within a software category that will likely be meaningfully smaller than anticipated. Additionally, Asana’s operating losses continue to widen as its revenues have begun decelerating.”