Navan (NASDAQ:NAVN) Shares Up 6.6% – Still a Buy?

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

Wall Street Analyst Weigh In

NAVN has been the topic of a number of research analyst reports. Rosenblatt Securities boosted their price target on Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Citizens Jmp lifted their target price on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Thursday, June 11th. Citigroup reissued an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. Weiss Ratings upgraded shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Finally, BTIG Research raised their price target on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.07.

Navan Trading Up 6.9%

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 market cap of $7.06 billion and a price-to-earnings ratio of -12.91. The company’s fifty day moving average is $21.96 and its two-hundred day moving average is $16.12.

Navan (NASDAQ:NAVN) last announced its quarterly earnings data on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.20. The business had revenue of $220.23 million for the quarter. The firm’s revenue was up 39.8% compared to the same quarter last year. On average, research analysts anticipate that Navan, Inc. will post -0.37 EPS for the current year.

Insider Buying and Selling at Navan

In related news, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the business’s stock in a transaction 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 completion of the transaction, the insider directly owned 3,761,089 shares in the company, valued at $75,221,780. The trade was a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ariel M. Cohen sold 41,530 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 1,254,731 shares in the company, valued at approximately $26,424,634.86. The trade was a 3.20% decrease in their ownership of the stock. 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. In the last three months, insiders sold 5,139,153 shares of company stock worth $102,867,420. 63.39% of the stock is currently owned by company insiders.

Institutional Trading of Navan

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