Telenav Inc (TNAV) Expected to Announce Quarterly Sales of $13.52 Million

Analysts expect that Telenav Inc (NASDAQ:TNAV) will report $13.52 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Telenav’s earnings, with the highest sales estimate coming in at $13.60 million and the lowest estimate coming in at $13.45 million. Telenav posted sales of $35.07 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 61.4%. The company is scheduled to report its next earnings report on Tuesday, May 1st.

On average, analysts expect that Telenav will report full-year sales of $13.52 million for the current financial year, with estimates ranging from $103.26 million to $103.40 million. For the next fiscal year, analysts forecast that the firm will report sales of $227.18 million per share, with estimates ranging from $185.00 million to $269.37 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Telenav.

Telenav (NASDAQ:TNAV) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.02. Telenav had a negative net margin of 38.56% and a negative return on equity of 56.00%. The business had revenue of $39.10 million during the quarter, compared to analysts’ expectations of $39.03 million. During the same quarter in the prior year, the business posted ($0.26) EPS. The company’s revenue for the quarter was down 24.8% on a year-over-year basis.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine downgraded shares of Telenav from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. B. Riley reiterated a “buy” rating and issued a $11.00 price target on shares of Telenav in a research report on Monday, October 30th. Finally, Craig Hallum set a $9.00 price target on shares of Telenav and gave the company a “buy” rating in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $10.88.

Shares of Telenav (NASDAQ TNAV) opened at $5.40 on Thursday. Telenav has a 12-month low of $4.50 and a 12-month high of $9.25. The company has a market cap of $241.50, a price-to-earnings ratio of -4.13 and a beta of 0.90.

In other Telenav news, CEO H.P. Jin purchased 10,000 shares of Telenav stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $5.07 per share, for a total transaction of $50,700.00. Following the transaction, the chief executive officer now directly owns 1,389,854 shares in the company, valued at $7,046,559.78. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 24.67% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in TNAV. Wells Fargo & Company MN raised its position in Telenav by 17.0% during the 2nd 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 last quarter. Alliancebernstein L.P. purchased a new position in Telenav during the 2nd quarter worth $179,000. Ameriprise Financial Inc. purchased a new position in Telenav during the 2nd quarter worth $206,000. Nationwide Fund Advisors raised its position in Telenav by 19.8% during the 2nd 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 last quarter. Finally, Northern Trust Corp raised its position in Telenav by 2.2% during the 2nd 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 last quarter. Institutional investors own 53.46% 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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