Asana price target lowered to $12 from $15 at RBC Capital

RBC Capital analyst Rishi Jaluria lowered the firm’s price target on Asana to $12 from $15 and keeps an Underperform rating on the shares. The company’s Q3 results were "rough", and his main focus is falling on the "dramatically changing" buyer behavior with cases of delayed deals, expansion headwinds, and some downgrades at renewal, the analyst tells investors in a research note. Jaluria adds that Asana appears to be getting hit by macro harder than peers in part because of its "tech and downmarket exposure".