Asana's (ASAN) move to embed AI Teammates and Studio into paid tiers without incremental cost creates a $1.2 million revenue timing headwind in H2 of fiscal 2027 that is expected to normalize in fiscal 2028, RBC Capital Markets said in a Thursday report.
The packaging shift also creates a nearly 150 basis points of gross margin pressure, which will also normalize in fiscal 2028 with no impact on annual recurring revenue, bookings, billings, or cash flow, the analysts said.
AI revenue could ramp in Q4 as adoption remains ahead of expectations, but AI momentum is being partially obscured by product-led growth weakness, accoridng to the note.
RBC reiterated its sector perform rating on the stock and boosted its price target to $9.50 per share from $8.
Price: 8.66, Change: -1.44, Percent Change: -14.22
