Navan (NASDAQ:NAVN) Shares Gap Down – Time to Sell?

Navan, Inc. (NASDAQ:NAVN) gapped down before the market opened on Wednesday . The stock had previously closed at $27.25, but opened at $25.50. Navan shares last traded at $25.5580, with a volume of 845,902 shares changing hands.

Analysts Set New Price Targets

NAVN has been the subject of several research reports. Citigroup reaffirmed an “outperform” rating on shares of Navan in a research report on Thursday, June 11th. BMO Capital Markets lifted their price objective on shares of Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Rosenblatt Securities boosted their price objective on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Citizens Jmp upped their target price on Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group increased their target price on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.64.

Navan Stock Performance

The business’s 50-day moving average price is $21.03 and its 200-day moving average price is $15.70. The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.52 billion and a PE ratio of -11.92.

Navan (NASDAQ:NAVN) last posted its earnings results 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. Navan’s revenue was up 39.8% on a year-over-year basis. As a group, equities research analysts expect that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Navan

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total value of $227,808.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Ilan Ezra Twig sold 24,726 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $520,729.56. Following the sale, the chief technology officer owned 805,860 shares in the company, valued at $16,971,411.60. The trade was a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 5,139,153 shares of company stock worth $102,867,420. 63.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Navan

A number of institutional investors have recently bought and sold shares of NAVN. Royal Bank of Canada acquired a new position in Navan during the 4th quarter valued at approximately $35,000. California State Teachers Retirement System acquired a new stake in shares of Navan during the fourth quarter worth $39,000. Russell Investments Group Ltd. purchased a new stake in shares of Navan during the fourth quarter valued at $51,000. Sunbelt Securities Inc. acquired a new position in shares of Navan in the 1st quarter valued at $71,000. Finally, Versant Capital Management Inc increased its position in shares of Navan by 23.2% in the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock valued at $132,000 after acquiring an additional 1,091 shares during the period.

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.