Navan, Inc. (NASDAQ:NAVN) Receives $30.50 Average Price Target from Brokerages

Navan, Inc. (NASDAQ:NAVN) has received an average rating of “Moderate Buy” from the seventeen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $30.50.

NAVN has been the topic of several recent analyst reports. Rosenblatt Securities lifted their target price on shares of Navan from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, September 10th. BTIG Research reaffirmed a “buy” rating and set a $30.00 price target on shares of Navan in a research report on Thursday, September 10th. The Goldman Sachs Group raised Navan from a “buy” rating to a “buy” rating in a research report on Monday, June 8th. Needham & Company LLC restated a “buy” rating on shares of Navan in a research note on Thursday, September 10th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Navan in a research report on Wednesday, September 9th.

Insiders Place Their Bets

In other news, CEO Ariel M. Cohen sold 225,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.14, for a total transaction of $6,781,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,086,242 shares in the company, valued at $32,739,333.88. The trade was a 17.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the business’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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 412,930 shares of company stock worth $12,344,748. 63.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Navan

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cosmic Management LLC bought a new position in shares of Navan during the fourth quarter worth about $121,930,000. Napean Trading & Investment Co Singapore PTE Ltd bought a new stake in Navan during the fourth quarter valued at $100,332,000. Alkeon Capital Management LLC bought a new stake in Navan during the fourth quarter valued at $45,891,000. Capital International Investors acquired a new stake in shares of Navan during the fourth quarter worth $41,557,000. Finally, Dragoneer Investment Group LLC bought a new position in shares of Navan in the 4th quarter worth about $35,791,000.

Navan Price Performance

Shares of NAVN opened at $20.97 on Friday. Navan has a 1 year low of $8.10 and a 1 year 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. The company has a market capitalization of $5.46 billion and a price-to-earnings ratio of -4.14. The business has a 50-day moving average of $26.44 and a 200-day moving average of $20.58.

Navan (NASDAQ:NAVN) last announced its earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. The business 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%. Navan’s revenue was up 35.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Navan will post -0.29 earnings per share for the current year.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.