Piper Sandler Cuts Asana Target to $14, RBC Capital Lowers to $11
Piper Sandler cut Asana’s price target to $14 from $19 and kept an Overweight rating after resetting platforms and apps coverage due to seat-compression and vibe coding concerns. RBC Capital on January 5 lowered its target to $11 from $14 with an Underperform rating, forecasting 2026 AI adoption will drive winners and laggards.
1. Piper Sandler Adjusts Price Target and Rating
On February 3, Piper Sandler lowered Asana’s price target to $14 from $19 while maintaining an Overweight rating following a platforms and apps group reset. The firm pointed to seat-compression pressure and emerging vibe coding narratives as factors that could constrain valuation multiples.
2. RBC Capital Lowers Price Target
On January 5, RBC Capital cut Asana’s price target to $11 from $14 and assigned an Underperform rating. The firm noted that 2026 AI adoption will differentiate software peers, with well-prepared companies poised for tailwinds and less-positioned firms likely to face headwinds.