Navan (NASDAQ:NAVN) Price Target Raised to $24.00 at Rosenblatt Securities

Navan (NASDAQ:NAVN) had its price objective lifted by investment analysts at Rosenblatt Securities from $20.00 to $24.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 13.21% from the company’s current price.

NAVN has been the subject of a number of other research reports. Weiss Ratings raised Navan from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Citigroup lowered their price objective on Navan from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Bank of America assumed coverage on Navan in a research report on Tuesday, April 7th. They set a “buy” rating and a $17.00 price target for the company. Morgan Stanley boosted their price target on Navan from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group raised Navan from a “buy” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.64.

Navan Price Performance

NASDAQ:NAVN opened at $21.20 on Monday. The firm has a 50 day moving average price of $16.75. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $5.32 billion and a price-to-earnings ratio of -10.14. Navan has a 1-year low of $8.10 and a 1-year high of $23.53.

Navan (NASDAQ:NAVN) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.26. The business had revenue of $177.92 million during the quarter. The firm’s quarterly revenue was up 34.8% on a year-over-year basis. As a group, sell-side analysts expect that Navan will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ariel M. Cohen sold 151,007 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $8.62, for a total value of $1,301,680.34. Following the transaction, the chief executive officer owned 1,003,918 shares in the company, valued at approximately $8,653,773.16. The trade was a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael Eric Sindicich sold 51,169 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $20.20, for a total value of $1,033,613.80. Following the completion of the transaction, the president owned 549,251 shares in the company, valued at approximately $11,094,870.20. This trade represents a 8.52% decrease in their position. 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 90 days, insiders have sold 253,592 shares of company stock worth $2,778,500. 63.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Lightspeed Management Company L.L.C. acquired a new stake in Navan during the fourth quarter valued at approximately $852,658,000. a16z Capital Management L.L.C. acquired a new stake in Navan during the fourth quarter valued at approximately $464,497,000. Greenoaks Capital Partners LLC acquired a new stake in Navan during the fourth quarter valued at approximately $274,088,000. Cosmic Management LLC acquired a new stake in Navan during the fourth quarter valued at approximately $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new stake in Navan during the fourth 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.