Navan (NASDAQ:NAVN) Trading Up 10.1% – Here’s Why

Shares of Navan, Inc. (NASDAQ:NAVN) traded up 10.1% on Monday . The company traded as high as $25.21 and last traded at $25.5350. 1,104,888 shares traded hands during trading, a decline of 67% from the average daily volume of 3,307,651 shares. The stock had previously closed at $23.20.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Bank of America boosted their target price on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Rosenblatt Securities upped their price target on shares of Navan from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, June 8th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Citizens Jmp lifted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.07.

Navan Stock Performance

The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $6.59 billion and a PE ratio of -12.04. The firm has a 50 day moving average price of $22.59 and a 200-day moving average price of $16.39.

Navan (NASDAQ:NAVN) last issued its earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. Research analysts expect that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Insider Buying and Selling at Navan

In related news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $25.36, for a total transaction of $227,808.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Ilan Ezra Twig sold 24,726 shares of the business’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 $520,729.56. Following the transaction, the chief technology officer owned 805,860 shares of the company’s stock, valued at $16,971,411.60. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 5,139,153 shares of company stock worth $102,867,420. Corporate insiders own 63.39% of the company’s stock.

Hedge Funds Weigh In On Navan

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Navan in the 4th quarter valued at about $270,000. FNY Investment Advisers LLC acquired a new stake in Navan during the fourth quarter worth about $115,000. Lunate Capital Ltd acquired a new stake in Navan during the fourth quarter worth about $3,416,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Navan during the fourth quarter valued at approximately $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Navan in the fourth quarter valued at approximately $257,000.

About Navan

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.