Scotiabank Boosts Asana (ASAN) PT on Improved Margins, AI Studio Momentum

Scotiabank analysts maintained their Sector Perform rating on Asana Inc. (NYSE:ASAN) and increased their price target from $12 to $16.50 on June 4. The change comes after Asana’s most recent strategic advancements and financial results.

With the leap year taken into account, Asana Inc. (NYSE:ASAN) announced a 9.8% year-over-year gain and a $1.8 million revenue beat. The company’s outstanding operational efficiency was also made clear by its impressive gross profit margins of 89.36%. Nonetheless, Asana cut its prediction for constant currency revenue for the fiscal year 2026 by $14 million, which implies 7.6% growth compared to the earlier estimate of 9.5%.

On the other hand, Asana’s AI Studio generated over $1 million in recurring income annually, and by the end of the year, management expects it might account for 1% of total recurring revenue. Although the early momentum of the AI Studio and its potential for faster growth in the second half of the year are encouraging, Scotiabank analysts are nonetheless wary about broader demand patterns and ongoing pressure.

Asana Inc. (NYSE:ASAN) is an American software firm that offers an online and mobile “work management” platform that assists teams in planning, monitoring, and managing their workload.

While we acknowledge the potential of ASAN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ASAN and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.