Telenav (NASDAQ:TNAV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “

TNAV has been the topic of a number of other research reports. B. Riley reissued a “buy” rating and issued a $11.00 price target on shares of Telenav in a research note on Monday, October 30th. ValuEngine cut Telenav from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, BidaskClub raised Telenav from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.00.

Shares of Telenav (TNAV) opened at $5.15 on Tuesday. Telenav has a 1 year low of $4.70 and a 1 year high of $10.15.

Telenav (NASDAQ:TNAV) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.06). The company had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $36.84 million. Telenav had a negative return on equity of 41.16% and a negative net margin of 32.94%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) EPS. sell-side analysts anticipate that Telenav will post -1.4 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. B. Riley Financial Inc. grew its stake in Telenav by 131.7% during the 3rd quarter. B. Riley Financial Inc. now owns 869,660 shares of the technology company’s stock valued at $5,522,000 after acquiring an additional 494,267 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Telenav by 8.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 139,717 shares of the technology company’s stock valued at $887,000 after buying an additional 10,650 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Telenav by 28.9% in the 3rd quarter. New York State Common Retirement Fund now owns 347,305 shares of the technology company’s stock valued at $2,205,000 after buying an additional 77,900 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Telenav by 28.4% in the 3rd quarter. Prudential Financial Inc. now owns 69,535 shares of the technology company’s stock valued at $442,000 after buying an additional 15,400 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its stake in shares of Telenav by 44.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 244,268 shares of the technology company’s stock valued at $1,551,000 after buying an additional 75,088 shares in the last quarter. 53.75% of the stock is currently owned by institutional investors.

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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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