Asana price target raised to $23 from $15 at Jefferies

Jefferies raised the firm’s price target on Asana to $23 from $15 and keeps a Hold rating on the shares. After two quarters of misses, Asana rebounded and beat billings expectations with year-over-year growth of 28.5%, the analyst tells investors. While the Q4 results were "a step in the right direction," and the CEO buoyed shares with his announcement he could repurchase up to 30M shares starting June 8, FY24 revenue guidance of 18%, versus 45% in FY23, "implies pressure hasn’t dissipated," the firm added.