Navan (NASDAQ:NAVN) Shares Gap Down – Should You Sell?

Navan, Inc. (NASDAQ:NAVN)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $27.25, but opened at $25.50. Navan shares last traded at $25.5580, with a volume of 845,902 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NAVN shares. BMO Capital Markets increased their price target on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Navan in a research report on Monday, June 22nd. Mizuho increased their target price on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Jefferies Financial Group lifted their price target on shares of Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Citigroup restated an “outperform” rating on shares of Navan in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.64.

Navan Price Performance

The firm has a market cap of $6.34 billion and a P/E ratio of -11.60. The company has a fifty day moving average of $20.65 and a 200-day moving average of $15.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31.

Navan (NASDAQ:NAVN) last issued its quarterly earnings data 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 company had revenue of $220.23 million for the quarter. The company’s revenue was up 39.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Michael Eric Sindicich sold 2,176 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $45,826.56. Following the transaction, the president directly owned 548,318 shares of the company’s stock, valued at $11,547,577.08. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Ilan Ezra Twig sold 24,726 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $520,729.56. Following the transaction, the chief technology officer owned 805,860 shares in the company, valued at approximately $16,971,411.60. This trade represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,130,170 shares of company stock valued at $102,639,611 over the last 90 days. 63.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navan

Several institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Navan in the 4th quarter valued at $270,000. FNY Investment Advisers LLC bought a new stake in shares of Navan during the 4th quarter worth $115,000. Lunate Capital Ltd purchased a new position in shares of Navan in the 4th quarter worth about $3,416,000. OVERSEA CHINESE BANKING Corp Ltd bought a new position in Navan during the fourth quarter valued at about $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Navan during the fourth quarter valued at about $257,000.

Navan Company Profile

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.