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

Navan (NASDAQ:NAVN) had its price objective raised by research analysts at Rosenblatt Securities from $20.00 to $24.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 13.21% from the stock’s previous close.

Several other equities analysts have also commented on the company. TD Cowen upped their target price on Navan from $19.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Morgan Stanley upped their target price on Navan from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. BMO Capital Markets upped their target price on Navan from $18.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Citigroup lowered their target price on Navan from $26.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Finally, Weiss Ratings raised Navan from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Navan presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.64.

Navan Price Performance

Shares of NASDAQ NAVN opened at $21.20 on Monday. The company’s 50 day moving average price is $16.75. Navan has a 52-week low of $8.10 and a 52-week high of $23.53. The firm has a market capitalization of $5.32 billion and a PE ratio of -10.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.07 and a quick ratio of 4.07.

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

Insider Buying and Selling

In related news, CEO Ariel M. Cohen sold 151,007 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 1,003,918 shares of the company’s stock, valued at $8,653,773.16. This represents a 13.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Ilan Ezra Twig sold 49,210 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief technology officer directly owned 538,012 shares of the company’s stock, valued at $4,637,663.44. This trade represents a 8.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 253,592 shares of company stock valued at $2,778,500 in the last three months. 63.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAVN. Royal Bank of Canada bought a new position in Navan during the 4th quarter valued at $35,000. California State Teachers Retirement System bought a new position in Navan during the 4th quarter valued at $39,000. Russell Investments Group Ltd. bought a new position in Navan during the 4th quarter valued at $51,000. Sunbelt Securities Inc. bought a new position in Navan during the 1st quarter valued at $71,000. Finally, New York State Common Retirement Fund bought a new position in Navan during the 4th quarter valued at $101,000.

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.