Asana price target lowered to $20 from $22 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Asana to $20 from $22 and keeps an Equal Weight rating on the shares. Asana delivered “solid” billings upside and maintained double-digit billings growth after two quarters of missing consensus billings, the analyst tells investors. Asana also pointed to first half of FY25 stabilization and acceleration in the second half, but lower than expected FY25 margins weighs on free cash flow, the analyst added.