Telenav Inc. (TNAV) Now Covered by Analysts at FBR & Co
Equities researchers at FBR & Co assumed coverage on shares of Telenav Inc. (NASDAQ:TNAV) in a research note issued to investors on Monday. The brokerage set an “outperform” rating and a $15.00 price target on the stock. FBR & Co’s target price suggests a potential upside of 150.00% from the company’s previous close.
A number of other analysts have also commented on TNAV. Zacks Investment Research raised Telenav from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, October 4th. B. Riley initiated coverage on Telenav in a research note on Thursday, August 25th. They set a “buy” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Telenav presently has a consensus rating of “Hold” and an average target price of $12.17.
Telenav (NASDAQ:TNAV) traded up 4.90% during mid-day trading on Monday, reaching $6.00. The company had a trading volume of 61,806 shares. Telenav has a one year low of $4.47 and a one year high of $7.62. The firm’s 50-day moving average is $5.65 and its 200-day moving average is $5.37. The firm’s market capitalization is $256.24 million.
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Telenav (NASDAQ:TNAV) last released its earnings results on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.05. Telenav had a negative return on equity of 22.62% and a negative net margin of 19.26%. The firm had revenue of $47.80 million for the quarter, compared to analysts’ expectations of $41.69 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that Telenav will post ($0.58) earnings per share for the current fiscal year.
In other Telenav news, CEO H.P. Jin acquired 7,500 shares of Telenav stock in a transaction on Friday, August 5th. The stock was purchased at an average price of $5.38 per share, for a total transaction of $40,350.00. Following the purchase, the chief executive officer now directly owns 1,357,269 shares of the company’s stock, valued at $7,302,107.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Strambi sold 8,500 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 35,305 shares of the company’s stock, valued at approximately $192,412.25. The disclosure for this sale can be found here. Insiders own 24.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TNAV. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Telenav by 2.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 36,540 shares of the company’s stock worth $186,000 after buying an additional 730 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of Telenav by 13.1% in the second quarter. Teachers Advisors Inc. now owns 47,031 shares of the company’s stock worth $240,000 after buying an additional 5,452 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Telenav by 18.9% in the second quarter. AQR Capital Management LLC now owns 51,230 shares of the company’s stock worth $261,000 after buying an additional 8,153 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Telenav by 88.0% in the second quarter. Nationwide Fund Advisors now owns 56,007 shares of the company’s stock worth $286,000 after buying an additional 26,222 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Telenav by 8.6% in the second quarter. Prudential Financial Inc. now owns 64,265 shares of the company’s stock worth $328,000 after buying an additional 5,100 shares in the last quarter. 46.83% of the stock is currently owned by hedge funds and other institutional investors.
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.
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