Telenav (NASDAQ:TNAV) released its quarterly earnings results on Thursday. The technology company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.14, Fidelity Earnings reports. The company had revenue of $52.17 million for the quarter, compared to analyst estimates of $51.74 million. Telenav had a negative return on equity of 129.39% and a negative net margin of 83.93%. Telenav updated its Q2 2019 guidance to EPS.
Shares of NASDAQ TNAV traded down $0.20 during mid-day trading on Friday, reaching $4.14. 118,900 shares of the company’s stock were exchanged, compared to its average volume of 71,336. The firm has a market cap of $192.30 million, a P/E ratio of -2.12 and a beta of 0.79. Telenav has a twelve month low of $4.08 and a twelve month high of $6.60.
A number of research firms have recently commented on TNAV. BidaskClub raised Telenav from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised Telenav from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Tuesday, August 14th. Finally, B. Riley reaffirmed a “buy” rating on shares of Telenav in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $8.33.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNAV. The Manufacturers Life Insurance Company raised its position in shares of Telenav by 180.7% during the first quarter. The Manufacturers Life Insurance Company now owns 26,744 shares of the technology company’s stock worth $145,000 after purchasing an additional 17,217 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Telenav during the second quarter worth about $415,000. Northern Trust Corp raised its position in shares of Telenav by 5.7% during the second quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock worth $1,960,000 after purchasing an additional 18,858 shares during the period. Wasatch Advisors Inc. acquired a new stake in Telenav in the 3rd quarter valued at approximately $2,706,000. Finally, Dimensional Fund Advisors LP raised its position in Telenav by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,285,015 shares of the technology company’s stock valued at $6,939,000 after buying an additional 17,675 shares during the last quarter. 51.79% of the stock is currently owned by institutional investors.
Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.
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