Asana price target raised to $22 from $20 at Oppenheimer

Oppenheimer raised the firm’s price target on Asana (ASAN) to $22 from $20 and keeps an Outperform rating on the shares. Asana reported better than expected Q3 results with in-line sales guidance that shows stabilization, with management sharing encouraging commentary on early AI Studio engagement and the potential for significant Technology Crossover Venture gains over time as it shifts to a hybrid pricing model, the analyst tells investors in a research note. The firm is positive on the results and sees an attractive opportunity in AI and work execution, though views this as a gradual, multi-quarter ramp.