Piper Sandler Cuts Asana Target to $14 While Citi Upgrades and RBC Cuts to $11
On February 3, Piper Sandler cut its price target on Asana to $14 from $19 while maintaining Overweight, citing seat-compression constraints and predicting software sector pessimism. Previously, Citi upgraded to Buy with a $16 target for AI Studio growth, whereas RBC cut its target to $11.
1. Piper Sandler Lowers Price Target
On February 3, Piper Sandler lowered Asana’s price target to $14 from $19 while maintaining an Overweight rating. Analysts cited seat-compression constraints and the "vibe coding" narrative as potential ceilings on software multiples and noted continued sector pessimism influencing valuations.
2. Citi Upgrade on AI Studio Prospects
Earlier in January, Citi upgraded Asana to Buy with a $16 price target unchanged. The upgrade highlighted the potential of AI Studio to boost sales reacceleration and margin expansion under new management focused on spending efficiency.
3. RBC Lowers Target with AI Tailwind Consideration
RBC Capital reduced its target to $11 from $14, maintaining an Underperform rating. The firm acknowledged enterprise AI adoption as a growth driver but raised concerns over the "AI is the death of software" narrative and conservative early-2026 guidance.