Asana price target raised to $16 from $13 at Jefferies

Jefferies raised the firm’s price target on Asana (ASAN) to $16 from $13 and keeps a Hold rating on the shares. While stating after earnings that “there are signs of stabilization,” and “encouraging early response” to AI Studio, the firm adds that macro remains a headwind and that Asana continues to lose share to Monday.com (MNDY) and Smartsheet (SMAR).