Zacks: Analysts Anticipate Telenav Inc (TNAV) Will Post Quarterly Sales of $39.03 Million

Brokerages expect that Telenav Inc (NASDAQ:TNAV) will report sales of $39.03 million for the current quarter, according to Zacks. Three analysts have provided estimates for Telenav’s earnings, with the lowest sales estimate coming in at $38.90 million and the highest estimate coming in at $39.20 million. Telenav posted sales of $52.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 24.9%. The business is expected to report its next earnings report after the market closes on Thursday, February 1st.

According to Zacks, analysts expect that Telenav will report full-year sales of $39.03 million for the current year, with estimates ranging from $153.20 million to $165.26 million. For the next financial year, analysts forecast that the business will post sales of $279.94 million per share, with estimates ranging from $269.37 million to $290.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Telenav.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the 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 company had revenue of $36.66 million during the quarter, compared to analyst estimates of $36.84 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Telenav from a “sell” rating to a “hold” rating in a report on Friday, January 5th. B. Riley reiterated a “buy” rating and issued a $11.00 price target on shares of Telenav in a report on Monday, October 30th. Finally, Craig Hallum set a $9.00 price target on Telenav and gave the company a “buy” rating in a report on Thursday, December 21st. 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. Telenav presently has a consensus rating of “Hold” and a consensus price target of $11.25.

Shares of Telenav (NASDAQ TNAV) opened at $5.65 on Monday. Telenav has a twelve month low of $4.50 and a twelve month high of $10.15.

Institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC acquired a new stake in shares of Telenav during the second quarter valued at about $111,000. SG Americas Securities LLC acquired a new stake in shares of Telenav during the fourth quarter valued at about $139,000. Susquehanna International Group LLP grew its stake in shares of Telenav by 21.0% during the second quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock valued at $167,000 after acquiring an additional 3,595 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Telenav during the second quarter valued at about $179,000. Finally, Wells Fargo & Company MN grew its stake 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 acquiring an additional 3,633 shares in the last quarter. Institutional investors own 53.74% of the company’s stock.

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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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Earnings History and Estimates for Telenav (NASDAQ:TNAV)

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