Asana price target lowered to $12 from $20 at DA Davidson

DA Davidson lowered the firm’s price target on Asana (ASAN) to $12 from $20 and keeps a Neutral rating on the shares. The company closed out the year with a small beat but gave FY26 guidance that fell short of expectations and also announced that Dustin Moskovitz plans to step down as CEO, sending shares down after hours, the analyst tells investors in a research note. Overall demand continues to be weighed down by weakness from the tech sector, though margin upside was a key positive for the quarter, the firm added.