Analysts Set Navan, Inc. (NASDAQ:NAVN) PT at $29.43

Shares of Navan, Inc. (NASDAQ:NAVN) have received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $29.7857.

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. BNP Paribas Exane increased their price target on Navan from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Oppenheimer raised their price target on Navan from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Citizens Jmp boosted their price objective on Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, June 11th. Finally, Weiss Ratings raised Navan from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, June 12th.

Insider Transactions at Navan

In other Navan news, CEO Ariel M. Cohen sold 225,000 shares of Navan stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.14, for a total value of $6,781,500.00. Following the sale, the chief executive officer directly owned 1,086,242 shares in the company, valued at approximately $32,739,333.88. The trade was a 17.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00. Following the completion of the sale, the insider owned 3,761,089 shares in the company, valued at approximately $75,221,780. The trade was a 21.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 5,481,362 shares of company stock valued at $113,690,219. 63.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Navan

Large investors have recently made changes to their positions in the company. Napean Trading & Investment Co Singapore PTE Ltd bought a new position in Navan during the fourth quarter valued at approximately $100,332,000. Dragoneer Investment Group LLC bought a new stake in Navan in the 4th quarter worth approximately $35,791,000. Bank of America Corp DE increased its stake in Navan by 733.7% in the 1st quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock worth $2,787,000 after acquiring an additional 185,271 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Navan by 812.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 118,875 shares of the company’s stock worth $1,574,000 after acquiring an additional 105,841 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of Navan during the 1st quarter valued at approximately $1,531,000.

Navan Trading Down 6.0%

Navan stock opened at $27.31 on Wednesday. Navan has a 12-month low of $8.10 and a 12-month high of $30.88. The firm has a market capitalization of $6.95 billion and a price-to-earnings ratio of -12.70. The firm has a 50 day moving average of $26.74 and a 200 day moving average of $19.13. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10.

Navan (NASDAQ:NAVN) last issued its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million for the quarter. The company’s quarterly revenue was up 39.8% on a year-over-year basis. As a group, research analysts predict that Navan will post -0.37 earnings per share for the current year.

About Navan

Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.

Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.