Navan (NASDAQ:NAVN) Given New $28.00 Price Target at Oppenheimer

Navan (NASDAQ:NAVN) had its target price raised by research analysts at Oppenheimer from $20.00 to $28.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 25.79% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. 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. Bank of America began coverage on Navan in a report on Tuesday, April 7th. They set a “buy” rating and a $17.00 price target on the stock. TD Cowen raised their price objective on shares of Navan from $19.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday. BMO Capital Markets lifted their target price on shares of Navan from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings upgraded shares of Navan from a “sell (e+)” rating to a “sell (d-)” rating in a research 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Navan has an average rating of “Moderate Buy” and a consensus price target of $23.36.

Navan Price Performance

Shares of Navan stock opened at $22.26 on Friday. Navan has a fifty-two week low of $8.10 and a fifty-two week high of $23.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.07 and a quick ratio of 4.07. The firm has a market capitalization of $5.58 billion and a price-to-earnings ratio of -10.65. The company has a 50 day moving average of $16.50.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.26. The company had revenue of $177.92 million for the quarter. Navan’s quarterly revenue was up 34.8% compared to the same quarter last year. On average, analysts expect that Navan will post -0.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ariel M. Cohen sold 151,007 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 1,003,918 shares in the company, valued at $8,653,773.16. This represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Michael Eric Sindicich sold 51,169 shares of Navan stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $20.20, for a total transaction of $1,033,613.80. Following the transaction, the president directly owned 549,251 shares of the company’s stock, valued at $11,094,870.20. This represents a 8.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 253,592 shares of company stock worth $2,778,500. 63.39% of the stock is currently owned by insiders.

Institutional Trading of Navan

A number of large investors have recently bought and sold shares of the business. Lightspeed Management Company L.L.C. bought a new position in shares of Navan in the 4th quarter worth about $852,658,000. a16z Capital Management L.L.C. acquired a new stake in Navan during the fourth quarter worth approximately $464,497,000. Greenoaks Capital Partners LLC bought a new stake in Navan in the fourth quarter worth approximately $274,088,000. Cosmic Management LLC acquired a new position in Navan in the fourth quarter valued at approximately $121,930,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in Navan in the fourth quarter valued at approximately $100,332,000.

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.