Telenav, Inc. (TNAV) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS
Telenav, Inc. (NASDAQ:TNAV) posted its quarterly earnings results on Thursday. The technology company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.06), Briefing.com reports. Telenav had a negative net margin of 32.94% and a negative return on equity of 39.14%. The business had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $36.84 million. During the same quarter in the previous year, the business posted ($0.22) EPS. The company’s quarterly revenue was down 13.2% on a year-over-year basis.
Telenav (NASDAQ TNAV) traded down $0.35 during midday trading on Friday, reaching $5.75. 101,954 shares of the company traded hands, compared to its average volume of 66,952.
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TNAV has been the topic of several research reports. Northland Securities set a $15.00 price target on shares of Telenav and gave the company a “buy” rating in a report on Monday, July 10th. BidaskClub lowered shares of Telenav from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. B. Riley restated a “buy” rating and issued a $11.00 price target on shares of Telenav in a report on Monday. Finally, ValuEngine lowered shares of Telenav from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.00.
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.
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