Navan (NASDAQ:NAVN) Trading 6.6% Higher – Should You Buy?

Navan, Inc. (NASDAQ:NAVN) shares shot up 6.6% during mid-day trading on Monday . The stock traded as high as $27.83 and last traded at $27.6740. Approximately 1,486,190 shares were traded during trading, a decline of 55% from the average session volume of 3,317,772 shares. The stock had previously closed at $25.96.

Analyst Ratings Changes

A number of analysts recently commented on the company. Mizuho lifted their price objective on Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. TD Cowen upped their target price on shares of Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. Citigroup reiterated an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Finally, Bank of America boosted their price target on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.07.

Navan Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. The company has a 50-day moving average price of $22.32 and a 200-day moving average price of $16.26. The firm has a market capitalization of $6.22 billion and a P/E ratio of -11.43.

Navan (NASDAQ:NAVN) last released its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The firm’s quarterly revenue was up 39.8% on a year-over-year basis. On average, sell-side analysts predict that Navan, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Arif Janmohamed sold 1,019,900 shares of Navan stock in a transaction that occurred on 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 transaction, the director owned 3,761,089 shares of the company’s stock, valued at $75,221,780. This trade represents a 21.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ariel M. Cohen sold 41,530 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $874,621.80. Following the transaction, the chief executive officer owned 1,254,731 shares of the company’s stock, valued at approximately $26,424,634.86. This represents a 3.20% decrease in their position. 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 5,139,153 shares of company stock valued at $102,867,420 over the last 90 days. 63.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Navan

Several hedge funds have recently bought and sold shares of the company. Handelsbanken Fonder AB bought a new position in shares of Navan during the second quarter worth $579,000. Versant Capital Management Inc increased its position in shares of Navan by 23.2% in the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after buying an additional 1,091 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new stake in Navan during the 1st quarter worth $177,000. Bank of America Corp DE raised its stake in Navan by 733.7% during the 1st quarter. Bank of America Corp DE now owns 210,524 shares of the company’s stock worth $2,787,000 after buying an additional 185,271 shares during the period. Finally, Janus Henderson Group PLC bought a new position in Navan during the first quarter worth about $367,000.

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.