Telenav Inc. (NASDAQ:TNAV) Given $10.83 Average Target Price by Analysts
Telenav Inc. (NASDAQ:TNAV) has received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus target price of $10.83 for the company and are anticipating that the company will post ($0.24) earnings per share for the current quarter, according to Zacks. Zacks has also given Telenav an industry rank of 198 out of 265 based on the ratings given to related companies.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Telenav from a “buy” rating to a “hold” rating in a research note on Thursday. B. Riley started coverage on shares of Telenav in a research note on Thursday, August 25th. They set a “buy” rating and a $15.00 price objective on the stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/telenav-inc-nasdaqtnav-given-10-83-average-target-price-by-analysts.html
Shares of Telenav (NASDAQ:TNAV) traded down 0.86% during trading on Friday, reaching $5.78. The company had a trading volume of 10,268 shares. Telenav has a 52-week low of $4.47 and a 52-week high of $7.75. The stock’s market capitalization is $246.85 million. The stock has a 50 day moving average of $5.62 and a 200 day moving average of $5.36.
Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.05. Telenav had a negative net margin of 19.26% and a negative return on equity of 22.62%. The company had revenue of $47.80 million for the quarter, compared to analyst estimates of $41.69 million. During the same quarter last year, the business earned ($0.12) earnings per share. Telenav’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Telenav will post ($0.58) EPS for the current year.
In other Telenav news, CFO Michael Strambi sold 8,500 shares of Telenav stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $5.45, for a total value of $46,325.00. Following the transaction, the chief financial officer now owns 35,305 shares in the company, valued at $192,412.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Loren E. Hillberg sold 6,242 shares of Telenav stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $5.93, for a total transaction of $37,015.06. Following the completion of the transaction, the general counsel now owns 2,132 shares in the company, valued at approximately $12,642.76. The disclosure for this sale can be found here. Corporate insiders own 27.85% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TNAV. Los Angeles Capital Management & Equity Research Inc. raised its position in Telenav by 14.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,810 shares of the company’s stock valued at $211,000 after buying an additional 4,600 shares during the period. Teachers Advisors Inc. raised its position in Telenav by 13.1% in the second quarter. Teachers Advisors Inc. now owns 47,031 shares of the company’s stock valued at $240,000 after buying an additional 5,452 shares during the period. AQR Capital Management LLC raised its position in Telenav by 18.9% in the second quarter. AQR Capital Management LLC now owns 51,230 shares of the company’s stock valued at $261,000 after buying an additional 8,153 shares during the period. Nationwide Fund Advisors raised its position in Telenav by 88.0% in the second quarter. Nationwide Fund Advisors now owns 56,007 shares of the company’s stock valued at $286,000 after buying an additional 26,222 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Telenav during the first quarter valued at about $349,000. Hedge funds and other institutional investors own 47.29% of the company’s stock.
Telenav Company Profile
TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Telenav Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telenav Inc. and related companies with MarketBeat.com's FREE daily email newsletter.