Navan (NASDAQ:NAVN) Shares Up 10.1% – Still a Buy?

Navan, Inc. (NASDAQ:NAVN)’s stock price shot up 10.1% during mid-day trading on Monday . The stock traded as high as $25.21 and last traded at $25.5350. 1,104,888 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 3,307,651 shares. The stock had previously closed at $23.20.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NAVN. BTIG Research lifted their target price on Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Mizuho raised their price target on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Oppenheimer set a $30.00 price objective on Navan in a report on Thursday, June 11th. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. Finally, Jefferies Financial Group increased their target price on shares of Navan from $18.00 to $26.00 and gave the stock a “buy” rating 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.07.

Navan Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.31 and a quick ratio of 4.31. The company has a market cap of $6.59 billion and a PE ratio of -12.04. The business has a fifty day simple moving average of $22.59 and a two-hundred day simple moving average of $16.39.

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

Insider Activity

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the stock in a transaction dated Friday, June 12th. The shares were 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 directly owned 3,761,089 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, CEO Ariel M. Cohen sold 41,530 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 $874,621.80. Following the completion of the sale, the chief executive officer owned 1,254,731 shares in the company, valued at $26,424,634.86. This represents a 3.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 5,139,153 shares of company stock valued at $102,867,420. Company insiders own 63.39% of the company’s stock.

Institutional Investors Weigh In On Navan

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

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.