Asana price target lowered to $15 from $19 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Asana to $15 from $19 and keeps an Equal Weight rating on the shares. Asana’s billings growth has continued its decelerating trend and while comps do get meaningfully easier, the company still needs to start seeing more significant improvement in gross and net retention in order to convert pipeline to bookings, the analyst tells investors in a preview note for SaaS group. The firm sees risk to guidance for a second half acceleration and had lowered its estimates for the second half, FY26 and FY27, the analyst added.