Asana price target raised to $28 from $21 at JMP Securities

JMP Securities raised the firm’s price target on Asana to $28 from $21 and keeps an Outperform rating on the shares. The company reported better-than-expected Q4 results, and CEO Dustin Moskovitz announced a 30M share trading plan he expects to execute this year, all of which left the stock up 25% in the aftermarket, the analyst tells investors in a research note. The firm believes Asana has product superiority in the enterprise, which is supported by its growth rate in the $5K plus category of 46% in the quarter and says the company addresses a large TAM, estimated to be $50.7B by 2025.