Wall Street brokerages expect Telenav, Inc. (NASDAQ:TNAV) to announce sales of $39.80 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Telenav’s earnings. The lowest sales estimate is $39.65 million and the highest is $40.04 million. Telenav reported sales of $47.75 million in the same quarter last year, which would suggest a negative year over year growth rate of 16.6%. The business is scheduled to announce its next earnings results on Tuesday, August 1st.

According to Zacks, analysts expect that Telenav will report full-year sales of $39.80 million for the current year, with estimates ranging from $168.94 million to $169.33 million. For the next year, analysts forecast that the business will report sales of $225.78 million per share, with estimates ranging from $212.80 million to $240.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Telenav.

A number of research analysts have commented on TNAV shares. Zacks Investment Research lowered Telenav from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Sidoti raised Telenav from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Friday, May 19th. ValuEngine raised Telenav from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, B. Riley reaffirmed a “buy” rating and set a $11.00 price target on shares of Telenav in a research report on Monday, May 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.25.

Shares of Telenav (NASDAQ:TNAV) remained flat at $8.10 during midday trading on Thursday. The company had a trading volume of 15,935 shares. The company has a 50-day moving average price of $8.34 and a 200-day moving average price of $8.31. Telenav has a 12-month low of $4.64 and a 12-month high of $10.15. The stock’s market cap is $354.25 million.

ILLEGAL ACTIVITY WARNING: “Zacks: Analysts Anticipate Telenav, Inc. (NASDAQ:TNAV) Will Announce Quarterly Sales of $39.80 Million” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this article on another publication, it was illegally copied and republished in violation of United States & international trademark and copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/07/06/zacks-analysts-anticipate-telenav-inc-nasdaqtnav-will-announce-quarterly-sales-of-39-80-million.html.

In other news, VP Evan Berg sold 5,329 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $8.80, for a total value of $46,895.20. Following the completion of the transaction, the vice president now owns 21,766 shares of the company’s stock, valued at approximately $191,540.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Strambi sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $8.31, for a total value of $41,550.00. Following the completion of the transaction, the chief financial officer now directly owns 37,613 shares of the company’s stock, valued at approximately $312,564.03. The disclosure for this sale can be found here. Insiders have sold a total of 20,329 shares of company stock valued at $175,445 in the last ninety days. 24.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC purchased a new position in shares of Telenav during the first quarter valued at about $3,649,000. Lyon Street Capital LLC raised its position in shares of Telenav by 99.3% in the first quarter. Lyon Street Capital LLC now owns 519,619 shares of the technology company’s stock valued at $4,495,000 after buying an additional 258,843 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Telenav by 17.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 24,462 shares of the technology company’s stock valued at $212,000 after buying an additional 3,691 shares in the last quarter. Divisar Capital Management LLC raised its position in shares of Telenav by 20.6% in the first quarter. Divisar Capital Management LLC now owns 2,085,982 shares of the technology company’s stock valued at $18,044,000 after buying an additional 357,012 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Telenav by 22.1% in the first quarter. Geode Capital Management LLC now owns 255,625 shares of the technology company’s stock valued at $2,211,000 after buying an additional 46,266 shares in the last quarter. 51.73% of the stock is owned by hedge funds and other institutional investors.

Telenav Company Profile

TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.

Get a free copy of the Zacks research report on Telenav (TNAV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Telenav (NASDAQ:TNAV)

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.