BMO Capital Markets Raises Navan (NASDAQ:NAVN) Price Target to $22.00

Navan (NASDAQ:NAVN) had its price objective increased by equities researchers at BMO Capital Markets from $18.00 to $22.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 21.75% from the stock’s current price.

Several other brokerages have also recently issued reports on NAVN. Bank of America initiated coverage on Navan in a report on Tuesday, April 7th. They issued a “buy” rating and a $17.00 target price for the company. Jefferies Financial Group reduced their price target on Navan from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Weiss Ratings raised shares of Navan from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Oppenheimer upped their price objective on shares of Navan from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Finally, Rosenblatt Securities reduced their target price on shares of Navan from $30.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Navan currently has a consensus rating of “Moderate Buy” and an average price target of $22.07.

Navan Price Performance

NAVN opened at $18.07 on Thursday. The stock has a market cap of $4.53 billion and a price-to-earnings ratio of -8.65. The business has a 50 day simple moving average of $13.09. Navan has a 1-year low of $8.10 and a 1-year high of $22.75. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.07 and a quick ratio of 4.07.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.26. The company had revenue of $177.92 million during the quarter. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. On average, equities analysts anticipate that Navan will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Navan

In related news, CTO Ilan Ezra Twig sold 49,210 shares of the business’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $8.62, for a total value of $424,190.20. Following the sale, the chief technology officer directly owned 538,012 shares in the company, valued at approximately $4,637,663.44. The trade was a 8.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ariel M. Cohen sold 151,007 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $8.62, for a total transaction of $1,301,680.34. Following the transaction, the chief executive officer directly owned 1,003,918 shares of the company’s stock, valued at approximately $8,653,773.16. This trade represents a 13.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 233,573 shares of company stock worth $2,041,434 over the last quarter.

Institutional Trading of Navan

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new position in Navan during the fourth quarter worth $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan in the fourth quarter valued at $39,000. Russell Investments Group Ltd. purchased a new stake in shares of Navan in the 4th quarter valued at $51,000. New York State Common Retirement Fund purchased a new stake in shares of Navan in the 4th quarter valued at $101,000. Finally, Strs Ohio acquired a new position in Navan during the 4th quarter worth about $113,000.

Navan Company Profile

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.