Navan, Inc. (NASDAQ:NAVN) Stock Has Average Price Target of $30.50

Shares of Navan, Inc. (NASDAQ:NAVN) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.50.

Several equities analysts have issued reports on NAVN shares. Rosenblatt Securities lifted their target price on Navan from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. TD Cowen cut their price objective on shares of Navan from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Needham & Company LLC reiterated a “buy” rating on shares of Navan in a research note on Thursday, September 10th. BNP Paribas Exane boosted their price objective on shares of Navan from $27.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings cut shares of Navan from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd.

Insiders Place Their Bets

In other Navan news, President Michael Sindicich sold 8,977 shares of Navan stock in a transaction on Monday, September 21st. The shares were sold at an average price of $21.27, for a total value of $190,940.79. Following the transaction, the president directly owned 539,341 shares of the company’s stock, valued at approximately $11,471,783.07. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Ilan Twig sold 36,040 shares of the company’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $21.27, for a total value of $766,570.80. Following the transaction, the chief technology officer directly owned 769,820 shares in the company, valued at approximately $16,374,071.40. The trade was a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 489,042 shares of company stock valued at $13,891,186. 63.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Navan

A number of large investors have recently modified their holdings of NAVN. N10 Wealth LLC increased its holdings in shares of Navan by 61.1% during the third quarter. N10 Wealth LLC now owns 19,244 shares of the company’s stock valued at $404,000 after acquiring an additional 7,295 shares in the last quarter. N10 Assets LLC purchased a new position in shares of Navan in the 3rd quarter valued at approximately $322,000. Zevenbergen Capital Investments LLC boosted its stake in Navan by 2,221.8% in the 3rd quarter. Zevenbergen Capital Investments LLC now owns 387,738 shares of the company’s stock worth $8,139,000 after purchasing an additional 371,038 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Navan in the 2nd quarter worth approximately $25,000. Finally, Corient Private Wealth LP acquired a new stake in Navan in the 2nd quarter worth approximately $1,310,000.

Navan Stock Up 0.4%

Navan stock opened at $24.00 on Thursday. Navan has a twelve month low of $8.10 and a twelve month high of $30.88. The business has a fifty day moving average of $25.07 and a two-hundred day moving average of $21.95. The firm has a market cap of $6.25 billion and a P/E ratio of -4.74. The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.09.

Navan (NASDAQ:NAVN) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.12) by $0.17. The firm had revenue of $232.79 million during the quarter. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%. Navan’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, analysts forecast that Navan will post -0.29 earnings per share for the current fiscal year.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company that provides an integrated platform for organizations and their employees. Its services are designed to help businesses manage corporate travel, employee spending, payments and related administrative processes through a centralized digital system.

The company’s platform supports travel booking for flights, hotels, rental cars and other accommodations, along with travel policies, approval workflows and traveler support.