Navan (NASDAQ:NAVN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Navan (NASDAQ:NAVN – Free Report) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating on shares of Navan in a report on Thursday, September 10th. Oppenheimer lifted their price objective on shares of Navan from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Weiss Ratings downgraded shares of Navan from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. Bank of America increased their target price on Navan from $26.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, TD Cowen cut their price target on Navan from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Check Out Our Latest Research Report on Navan

Navan Stock Performance

NASDAQ NAVN opened at $25.38 on Friday. The business’s 50 day moving average price is $24.40 and its 200-day moving average price is $19.50. Navan has a fifty-two week low of $8.10 and a fifty-two week high of $30.88. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38.

Navan (NASDAQ:NAVN – Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.17. The company had revenue of $232.79 million during the quarter. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The company’s revenue for the quarter was up 35.4% on a year-over-year basis. On average, analysts forecast that Navan will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Ilan Twig sold 36,040 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $21.27, for a total transaction of $766,570.80. Following the completion of the sale, the chief technology officer owned 769,820 shares in the company, valued at $16,374,071.40. The trade was a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Sindicich sold 8,977 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $21.27, for a total value of $190,940.79. Following the completion of the sale, the president directly owned 539,341 shares of the company’s stock, valued at $11,471,783.07. The trade was a 1.64% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 489,042 shares of company stock valued at $13,891,186. Insiders own 63.39% of the company’s stock.

Hedge Funds Weigh In On Navan

Hedge funds have recently made changes to their positions in the stock. CenterBook Partners LP boosted its stake in shares of Navan by 94.5% during the 3rd quarter. CenterBook Partners LP now owns 89,119 shares of the company’s stock valued at $1,871,000 after buying an additional 43,291 shares during the last quarter. State of Wyoming acquired a new stake in Navan in the third quarter worth $111,000. Sterling Capital Management LLC boosted its position in shares of Navan by 859.8% during the third quarter. Sterling Capital Management LLC now owns 3,513 shares of the company’s stock worth $74,000 after buying an additional 3,147 shares during the period. Nisa Investment Advisors LLC boosted its stake in Navan by 13.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,650 shares of the company’s stock valued at $77,000 after purchasing an additional 420 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Navan in the third quarter valued at $546,000.

About Navan

(Get Free Report)

Navan, Inc is a travel and expense management technology company that provides software and services for businesses and their employees. The company’s platform is designed to bring corporate travel booking, expense management, payments and related administrative functions into a unified system.

Navan’s products include tools for booking flights, hotels, rental cars and other business travel, as well as expense reporting, reimbursement and corporate card management. Its platform also offers travel-policy controls, reporting and automation features intended to help companies manage spending and support employees during business trips.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and adopted the Navan name in 2023.

See Also

Analyst Recommendations for Navan (NASDAQ:NAVN)

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