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

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 several other research reports. Craig Hallum set a $9.00 price objective on Telenav and gave the stock a “buy” rating in a report on Thursday, December 21st. B. Riley reiterated a “buy” rating and issued a $11.00 price objective on shares of Telenav in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $11.25.

Telenav (NASDAQ:TNAV) remained flat at $$5.50 during midday trading on Friday. 36,200 shares of the stock were exchanged, compared to its average volume of 81,900. Telenav has a 1 year low of $4.50 and a 1 year high of $10.15. The firm has a market cap of $243.72, a PE ratio of -4.47 and a beta of 0.87.

Telenav (NASDAQ:TNAV) last released 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). Telenav had a negative net margin of 32.94% and a negative return on equity of 41.16%. The firm had revenue of $36.66 million for the quarter, compared to analysts’ expectations of $36.84 million. During the same quarter in the previous year, the business earned ($0.22) EPS. The company’s revenue for the quarter was down 13.2% on a year-over-year basis. equities research analysts predict that Telenav will post -1.4 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its holdings in shares of Telenav by 2.8% in the second quarter. Prudential Financial Inc. now owns 54,135 shares of the technology company’s stock worth $438,000 after buying an additional 1,500 shares during the period. Susquehanna International Group LLP increased its holdings in shares of Telenav by 21.0% in the second quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock worth $167,000 after buying an additional 3,595 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Telenav by 17.0% in the second quarter. Wells Fargo & Company MN now owns 25,063 shares of the technology company’s stock worth $202,000 after buying an additional 3,633 shares during the period. Northern Trust Corp increased its holdings in shares of Telenav by 2.2% in the second quarter. Northern Trust Corp now owns 336,292 shares of the technology company’s stock worth $2,724,000 after buying an additional 7,356 shares during the period. Finally, Nationwide Fund Advisors increased its holdings in shares of Telenav by 19.8% in the second quarter. Nationwide Fund Advisors now owns 46,300 shares of the technology company’s stock worth $375,000 after buying an additional 7,642 shares during the period. Hedge funds and other institutional investors own 53.75% of the company’s stock.

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About Telenav

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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