Navan (NASDAQ:NAVN) Trading 4.7% Higher – Should You Buy?

Navan, Inc. (NASDAQ:NAVN)’s stock price was up 4.7% during mid-day trading on Tuesday . The stock traded as high as $22.41 and last traded at $22.3750. Approximately 1,363,346 shares were traded during trading, a decline of 58% from the average session volume of 3,278,302 shares. The stock had previously closed at $21.37.

Wall Street Analysts Forecast Growth

NAVN has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Navan in a research report on Wednesday, September 9th. Mizuho boosted their price objective on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. One 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Navan Stock Up 4.9%

The company has a current ratio of 4.38, a quick ratio of 4.38 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average price is $26.95 and its 200-day moving average price is $20.08. The company has a market cap of $5.70 billion and a P/E ratio of -4.44.

Navan (NASDAQ:NAVN) last issued its earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The company had revenue of $232.79 million for the quarter. The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year. As a group, research analysts forecast that Navan, Inc. will post -0.37 EPS for the current year.

Insider Activity at Navan

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total transaction of $227,808.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arif Janmohamed sold 77,323 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.06, for a total value of $1,473,776.38. Following the sale, the director directly owned 2,280,989 shares of the company’s stock, valued at $43,475,650.34. This represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 636,008 shares of company stock valued at $16,733,478 over the last quarter. 63.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navan

Several large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in Navan during the 2nd quarter worth $25,000. Orion Capital Management LLC purchased a new stake in shares of Navan in the second quarter valued at about $54,000. EMC Capital Management bought a new position in shares of Navan during the second quarter valued at about $114,000. Sunbelt Securities Inc. bought a new position in shares of Navan during the first quarter valued at about $71,000. Finally, Versant Capital Management Inc boosted its holdings in Navan by 23.2% during the second 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 last quarter.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.