Asana stock falls following fiscal 2027 second quarter results

Asana shares fell nearly 13% following the release of its second quarter fiscal 2027 results. While the company reported revenue of $216.4 million—a 10% year-over-year increase—and an adjusted net income of $23.8 million, which both exceeded analyst estimates, investors reacted negatively to future guidance.

The company maintained its adjusted net income guidance of $0.37 per share but projected a revenue growth rate of approximately 9% for the upcoming period, which is a slight deceleration from the 10% growth seen in the second quarter. CEO Dan Rogers noted that the core business is strengthening with improved retention and momentum across various industries.

In response to recent performance, Piper Sandler raised its price target for Asana from $7.00 to $9.00, though it maintains a neutral rating. Other analysts have provided mixed outlooks, with the company currently holding an average Wall Street rating of 'Hold' and an average price target of $9.45.