Asana price target lowered to $13 from $15 at Citi

Citi analyst Steven Enders lowered the firm’s price target on Asana to $13 from $15 and keeps a Neutral rating on the shares. The company reported a mixed Q2 with a more muted in-quarter beat and a cut to revenue guidance as headwinds in the tech vertical continued, driving pressure on renewals and slower sales cycles, the analyst tells investors in a research note. The firm remains cautious on a challenging near-term demand environment and potential execution risk.