Telenav Inc. (TNAV) Receives New Coverage from Analysts at FBR & Co
Stock analysts at FBR & Co started coverage on shares of Telenav Inc. (NASDAQ:TNAV) in a research note issued on Monday. The brokerage set an “outperform” rating and a $15.00 price target on the stock. FBR & Co’s target price points to a potential upside of 162.24% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Telenav from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. B. Riley assumed coverage on Telenav in a research note on Thursday, August 25th. They set a “buy” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Telenav presently has a consensus rating of “Hold” and a consensus price target of $12.17.
Shares of Telenav (NASDAQ:TNAV) opened at 5.72 on Monday. The stock’s market capitalization is $244.28 million. The company has a 50 day moving average of $5.65 and a 200 day moving average of $5.37. Telenav has a 52-week low of $4.47 and a 52-week high of $7.62.
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Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 period last year, the business posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts predict that Telenav will post ($0.58) EPS for the current fiscal year.
In other Telenav news, General Counsel Loren E. Hillberg sold 7,803 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $5.22, for a total value of $40,731.66. Following the sale, the general counsel now directly owns 12,500 shares in the company, valued at $65,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Strambi sold 8,500 shares of the firm’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 sale, the chief financial officer now owns 35,305 shares in the company, valued at $192,412.25. The disclosure for this sale can be found here. 24.60% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Springbok Capital Management LLC raised its position in shares of Telenav by 0.6% in the first quarter. Springbok Capital Management LLC now owns 81,501 shares of the company’s stock worth $481,000 after buying an additional 450 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised 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 during the period. Spark Investment Management LLC raised its position in shares of Telenav by 8.5% in the first quarter. Spark Investment Management LLC now owns 63,900 shares of the company’s stock worth $377,000 after buying an additional 4,984 shares during the period. Prudential Financial Inc. raised 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 during the period. Finally, Teachers Advisors Inc. raised 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 during the period. Institutional investors own 46.83% 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.
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