Navan (NASDAQ:NAVN) Reaches New 1-Year High – Should You Buy?

Shares of Navan, Inc. (NASDAQ:NAVNGet Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $24.79 and last traded at $24.6880, with a volume of 2443930 shares trading hands. The stock had previously closed at $22.87.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Navan from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. BTIG Research boosted their price target on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Morgan Stanley upped their price target on shares of Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Mizuho lifted their price objective on Navan from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Finally, BMO Capital Markets boosted their target price on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. One 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.64.

Get Our Latest Research Report on Navan

Navan Price Performance

The firm’s 50-day moving average is $19.61 and its 200-day moving average is $15.12. The company has a market capitalization of $6.24 billion and a PE ratio of -11.40. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10.

Navan (NASDAQ:NAVNGet Free Report) last released its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share 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 company’s quarterly revenue was up 39.8% on a year-over-year basis. Equities analysts predict that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Navan

In other news, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the completion of the sale, the insider directly owned 3,761,089 shares in the company, valued at approximately $75,221,780. The trade was a 21.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ariel M. Cohen sold 41,530 shares of the company’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 $874,621.80. Following the completion of the sale, the chief executive officer directly owned 1,254,731 shares of the company’s stock, valued at $26,424,634.86. This trade represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 5,119,601 shares of company stock valued at $102,379,085. 63.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Navan

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new position in shares of Navan during the fourth quarter valued at about $35,000. California State Teachers Retirement System bought a new stake in shares of Navan in the 4th quarter valued at about $39,000. Russell Investments Group Ltd. purchased a new stake in Navan during the 4th quarter valued at about $51,000. Sunbelt Securities Inc. bought a new position in Navan during the 1st quarter worth approximately $71,000. Finally, New York State Common Retirement Fund purchased a new position in Navan in the 4th quarter worth approximately $101,000.

About Navan

(Get Free Report)

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.

Further Reading

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