Shares of Telenav Inc (NASDAQ:TNAV) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $10.88.
TNAV has been the subject of several research analyst reports. Zacks Investment Research raised Telenav from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. B. Riley reissued a “buy” rating and issued a $9.50 price objective on shares of Telenav in a research report on Monday, January 29th. Craig Hallum set a $9.00 price objective on Telenav and gave the stock a “buy” rating in a research report on Thursday, December 21st. Finally, ValuEngine lowered Telenav from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd.
Shares of Telenav (TNAV) traded down $0.05 during trading hours on Friday, reaching $5.70. The company had a trading volume of 1,702 shares, compared to its average volume of 78,920. Telenav has a twelve month low of $4.50 and a twelve month high of $9.25.
Telenav (NASDAQ:TNAV) last announced its earnings results on Thursday, February 1st. The technology company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.02. The business had revenue of $39.10 million during the quarter, compared to analyst estimates of $39.03 million. Telenav had a negative return on equity of 56.00% and a negative net margin of 38.56%. Telenav’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the company earned ($0.26) EPS. equities research analysts anticipate that Telenav will post -2.03 earnings per share for the current year.
In other Telenav news, CEO H.P. Jin acquired 20,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was purchased at an average cost of $5.66 per share, with a total value of $113,200.00. Following the transaction, the chief executive officer now owns 1,399,854 shares in the company, valued at approximately $7,923,173.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 24.67% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of Telenav by 17.0% in the 2nd quarter. Wells Fargo & Company MN now owns 25,063 shares of the technology company’s stock valued at $202,000 after buying an additional 3,633 shares during the period. Northern Trust Corp grew its stake in shares of Telenav by 2.2% in the 2nd quarter. Northern Trust Corp now owns 336,292 shares of the technology company’s stock valued at $2,724,000 after buying an additional 7,356 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Telenav by 8.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 139,717 shares of the technology company’s stock valued at $887,000 after buying an additional 10,650 shares during the period. BlackRock Inc. grew its stake in shares of Telenav by 0.7% in the 4th quarter. BlackRock Inc. now owns 1,626,681 shares of the technology company’s stock valued at $8,947,000 after buying an additional 10,831 shares during the period. Finally, Voya Investment Management LLC acquired a new stake in shares of Telenav in the 2nd quarter valued at about $111,000. Institutional investors own 52.42% of the company’s stock.
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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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