Navan (NASDAQ:NAVN) Shares Up 4.7% – Here’s Why

Navan, Inc. (NASDAQ:NAVN)’s stock price was up 4.7% during trading on Tuesday . The company traded as high as $22.41 and last traded at $22.3750. 1,363,346 shares were traded during mid-day trading, a decline of 58% from the average session volume of 3,278,302 shares. The stock had previously closed at $21.37.

Wall Street Analyst Weigh In

NAVN has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. BNP Paribas Exane upped their target price on Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. TD Cowen cut their target price on shares of Navan from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Thursday, September 10th. Jefferies Financial Group increased their target price on shares of Navan from $18.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued 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 currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Navan Stock Up 0.5%

The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.09. The firm’s fifty day simple moving average is $26.79 and its 200-day simple moving average is $20.26. The company has a market cap of $5.73 billion and a PE ratio of -4.45.

Navan (NASDAQ:NAVN) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. The firm had revenue of $232.79 million during the quarter. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%.The company’s revenue was up 35.4% on a year-over-year basis. As a group, equities research analysts expect that Navan, Inc. will post -0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ariel M. Cohen sold 225,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 1,086,242 shares in the company, valued at approximately $32,739,333.88. This trade represents a 17.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Michael Sindicich sold 2,176 shares of Navan stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $45,826.56. Following the completion of the sale, the president directly owned 548,318 shares of the company’s stock, valued at $11,547,577.08. The trade was a 0.40% 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. In the last ninety days, insiders have sold 481,362 shares of company stock valued at $13,785,926. 63.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Navan

A number of hedge funds and other institutional investors have recently made changes to their positions in NAVN. Integrated Wealth Concepts LLC acquired a new stake in Navan in the 2nd quarter worth about $25,000. Corient Private Wealth LP acquired a new position in shares of Navan during the 2nd quarter valued at about $1,310,000. Orion Capital Management LLC purchased a new position in shares of Navan during the 2nd quarter worth about $54,000. EMC Capital Management acquired a new stake in shares of Navan in the second quarter worth approximately $114,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Navan in the second quarter worth approximately $579,000.

About Navan

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.