Brokerages Set Navan, Inc. (NASDAQ:NAVN) Target Price at $28.64

Navan, Inc. (NASDAQ:NAVN) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.0714.

A number of research analysts recently issued reports on the stock. Oppenheimer set a $30.00 target price on shares of Navan in a research note on Thursday, June 11th. The Goldman Sachs Group raised shares of Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Citizens Jmp upped their price target on shares of Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, June 11th. Bank of America raised their price target on Navan from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Finally, Morgan Stanley lifted their price objective on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th.

Navan Trading Up 0.8%

Shares of NAVN stock opened at $26.13 on Tuesday. Navan has a 12 month low of $8.10 and a 12 month high of $28.22. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $21.38 and its two-hundred day moving average is $15.84. The company has a market cap of $6.65 billion and a PE ratio of -12.15.

Navan (NASDAQ:NAVN) last released its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. Equities analysts predict that Navan will post -0.37 EPS for the current year.

Insider Activity

In other Navan news, President Michael Eric Sindicich sold 2,176 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $45,826.56. Following the sale, the president owned 548,318 shares of the company’s stock, valued at $11,547,577.08. This trade represents a 0.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of Navan stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total value of $227,808.88. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,139,153 shares of company stock worth $102,867,420 over the last 90 days. Company insiders own 63.39% of the company’s stock.

Hedge Funds Weigh In On Navan

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada acquired a new position in Navan during the 4th quarter valued at $35,000. California State Teachers Retirement System bought a new stake in Navan in the 4th quarter valued at $39,000. Russell Investments Group Ltd. acquired a new stake in Navan in the 4th quarter worth $51,000. Sunbelt Securities Inc. acquired a new stake in Navan in the 1st quarter worth $71,000. Finally, New York State Common Retirement Fund bought a new position in shares of Navan during the 4th quarter worth about $101,000.

About Navan

Navan (NASDAQ: NAVN) is a technology company that provides an integrated platform for corporate travel, expense management and business payments. The company combines online travel booking and itinerary management with expense reporting, corporate card services and payment processing to help organizations consolidate travel and T&E (travel and expense) workflows into a single system. Navan emphasizes a mobile-first user experience, automated reconciliation and policy controls to simplify administrative processes for finance and travel teams while improving the experience for travelers.

Navan’s offerings typically include online and mobile travel booking, real-time traveler support and duty-of-care features, automated expense capture and reporting, corporate card and virtual card issuance, and tools for payments and invoice management.