B. Riley Reaffirms Buy Rating for Telenav (TNAV)

Telenav (NASDAQ:TNAV)‘s stock had its “buy” rating restated by equities research analysts at B. Riley in a research report issued to clients and investors on Monday. They presently have a $9.50 target price on the technology company’s stock. B. Riley’s price objective points to a potential upside of 68.14% from the stock’s current price.

TNAV has been the topic of several other reports. Zacks Investment Research raised Telenav from a “sell” rating to a “hold” rating in a report on Tuesday, December 5th. Craig Hallum set a $9.00 target price on Telenav and gave the stock a “buy” rating in a report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Telenav has an average rating of “Hold” and an average price target of $10.88.

Shares of Telenav (NASDAQ TNAV) remained flat at $$5.65 during trading on Monday. 49,479 shares of the stock traded hands, compared to its average volume of 69,064. Telenav has a 1-year low of $4.50 and a 1-year high of $10.15. The firm has a market capitalization of $250.36, a PE ratio of -4.59 and a beta of 0.87.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ 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 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 firm earned ($0.22) earnings per share. Telenav’s revenue was down 13.2% on a year-over-year basis. research analysts predict that Telenav will post -1.4 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of TNAV. Voya Investment Management LLC bought a new stake in Telenav during the second quarter worth approximately $111,000. SG Americas Securities LLC bought a new stake in Telenav during the fourth quarter worth approximately $139,000. Susquehanna International Group LLP increased its stake in Telenav by 21.0% during the second quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock worth $167,000 after acquiring an additional 3,595 shares during the last quarter. Alliancebernstein L.P. bought a new stake in Telenav during the second quarter worth approximately $179,000. Finally, Wells Fargo & Company MN boosted its position in shares of Telenav by 17.0% during the second quarter. Wells Fargo & Company MN now owns 25,063 shares of the technology company’s stock valued at $202,000 after buying an additional 3,633 shares during the period. 53.74% of the stock is currently owned by institutional investors.

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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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