Navan, Inc. (NASDAQ:NAVN) Given Average Recommendation of “Moderate Buy” by Brokerages

Navan, Inc. (NASDAQ:NAVN) has been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $29.0714.

A number of equities analysts have weighed in on the stock. Citizens Jmp lifted their price target on shares of Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, June 11th. Weiss Ratings raised Navan from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, June 12th. TD Cowen increased their price objective on shares of Navan from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Rosenblatt Securities boosted their price target on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a report on Monday, June 8th.

Navan Price Performance

Shares of NAVN opened at $29.08 on Friday. The company has a market capitalization of $7.40 billion and a price-to-earnings ratio of -13.53. The firm has a 50-day simple moving average of $24.14 and a 200-day simple moving average of $17.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. Navan has a fifty-two week low of $8.10 and a fifty-two week high of $29.42.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.20. The business had revenue of $220.23 million during the quarter. The firm’s revenue was up 39.8% compared to the same quarter last year. On average, equities research analysts anticipate that Navan will post -0.37 earnings per share for the current year.

Insider Activity at Navan

In related news, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $20.00, for a total value of $20,398,000.00. Following the transaction, the insider owned 3,761,089 shares in the company, valued at approximately $75,221,780. This represents a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Michael Eric Sindicich sold 51,169 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $20.20, for a total transaction of $1,033,613.80. Following the completion of the sale, the president directly owned 549,251 shares of the company’s stock, valued at $11,094,870.20. This represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 5,139,153 shares of company stock valued at $102,867,420. Insiders own 63.39% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Lightspeed Management Company L.L.C. acquired a new stake in shares of Navan in the fourth quarter valued at approximately $852,658,000. a16z Capital Management L.L.C. bought a new stake in shares of Navan in the 4th quarter valued at $464,497,000. Greenoaks Capital Partners LLC acquired a new stake in shares of Navan during the fourth quarter worth about $274,088,000. Cosmic Management LLC acquired a new position in shares of Navan in the 4th quarter valued at approximately $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in shares of Navan in the 4th quarter valued at approximately $100,332,000.

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.