Navan (NASDAQ:NAVN) Price Target Raised to $28.00 at TD Cowen

Navan (NASDAQ:NAVN) had its price target upped by stock analysts at TD Cowen from $19.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 21.61% from the stock’s current price.

Several other research analysts have also recently weighed in on NAVN. Jefferies Financial Group lowered their price objective on Navan from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Weiss Ratings upgraded shares of Navan from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Citigroup dropped their price objective on shares of Navan from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Oppenheimer increased their target price on shares of Navan from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. Finally, Bank of America initiated coverage on shares of Navan in a research report on Tuesday, April 7th. They issued a “buy” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.79.

Navan Trading Up 7.7%

Shares of NASDAQ:NAVN traded up $1.66 during trading on Tuesday, reaching $23.03. 4,156,726 shares of the stock were exchanged, compared to its average volume of 3,491,421. Navan has a 12 month low of $8.10 and a 12 month high of $23.14. The company’s 50-day moving average is $15.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.07 and a current ratio of 4.07. The company has a market cap of $5.77 billion and a price-to-earnings ratio of -10.63.

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

Insider Buying and Selling

In other Navan news, CEO Ariel M. Cohen sold 151,007 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $8.62, for a total transaction of $1,301,680.34. Following the completion of the transaction, the chief executive officer directly owned 1,003,918 shares in the company, valued at $8,653,773.16. The trade was a 13.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Ilan Ezra Twig sold 49,210 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $8.62, for a total value of $424,190.20. Following the sale, the chief technology officer owned 538,012 shares of the company’s stock, valued at $4,637,663.44. The trade was a 8.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 253,592 shares of company stock worth $2,778,500. Corporate insiders own 63.39% of the company’s stock.

Institutional Trading of Navan

Institutional investors and hedge funds have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new position in shares of Navan during the fourth quarter worth $8,540,000. Lunate Capital Ltd acquired a new stake in Navan during the fourth quarter worth approximately $3,416,000. Jennison Associates LLC acquired a new stake in shares of Navan during the 4th quarter worth approximately $31,195,000. Vanguard Group Inc. bought a new stake in Navan in the fourth quarter valued at $56,848,000. Finally, Seven Grand Managers LLC bought a new stake in Navan in the 4th quarter valued at about $1,708,000.

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.