Navan (NASDAQ:NAVN) Sets New 12-Month High – Should You Buy?

Navan, Inc. (NASDAQ:NAVN)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.35 and last traded at $26.30, with a volume of 3705145 shares changing hands. The stock had previously closed at $25.67.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Morgan Stanley raised their price objective on shares of Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. BMO Capital Markets boosted their target price on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Finally, TD Cowen increased their price target on Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Navan presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.64.

Navan Stock Performance

The company has a fifty day simple moving average of $20.41 and a 200-day simple moving average of $15.44. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31.

Navan (NASDAQ:NAVN) last posted its quarterly earnings data 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 for the quarter. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, sell-side analysts expect that Navan, Inc. will post -0.37 earnings per share for the current year.

Insiders Place Their Bets

In other Navan news, CEO Ariel M. Cohen sold 41,530 shares of Navan stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $874,621.80. Following the transaction, the chief executive officer directly owned 1,254,731 shares in the company, valued at approximately $26,424,634.86. The trade was a 3.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Ilan Ezra Twig sold 24,726 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $520,729.56. Following the sale, the chief technology officer directly owned 805,860 shares in the company, valued at approximately $16,971,411.60. This trade represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,130,170 shares of company stock worth $102,639,611 in the last quarter. Corporate insiders own 63.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc raised its position in Navan by 23.2% during the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after buying an additional 1,091 shares during the period. Royal Bank of Canada purchased a new position in Navan during the 4th quarter valued at about $35,000. California State Teachers Retirement System acquired a new position in shares of Navan in the 4th quarter valued at about $39,000. Russell Investments Group Ltd. acquired a new position in shares of Navan in the 4th quarter valued at about $51,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Navan in the first quarter worth approximately $71,000.

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.