Navan (NASDAQ:NAVN) Stock Rating Lowered by Wall Street Zen

Navan (NASDAQ:NAVN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently commented on NAVN. TD Cowen dropped their price objective on shares of Navan from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, September 10th. Rosenblatt Securities lifted their price objective 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. Bank of America boosted their target price on shares of Navan from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Needham & Company LLC reissued a “buy” rating on shares of Navan in a report on Thursday, September 10th. Finally, Oppenheimer raised their price target on Navan from $30.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Navan Trading Down 2.9%

Shares of NASDAQ NAVN opened at $25.42 on Friday. The stock’s 50-day moving average is $23.87 and its two-hundred day moving average is $19.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.38 and a current ratio of 4.38. Navan has a 1-year low of $8.10 and a 1-year high of $30.88.

Navan (NASDAQ:NAVN) last issued its earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.17. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The firm had revenue of $232.79 million for the quarter. The firm’s revenue for the quarter was up 35.4% compared to the same quarter last year. Analysts anticipate that Navan will post -0.29 EPS for the current fiscal year.

Insider Activity at Navan

In related news, President Michael Sindicich sold 8,977 shares of the business’s stock in a transaction 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Ilan Twig sold 36,040 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $21.27, for a total transaction of $766,570.80. Following the completion of the transaction, the chief technology officer owned 769,820 shares of the company’s stock, valued at $16,374,071.40. This represents a 4.47% 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. Insiders have sold 497,075 shares of company stock valued at $14,101,088 in the last ninety days. Insiders own 63.39% of the company’s stock.

Institutional Trading of Navan

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Navan by 17.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,376,203 shares of the company’s stock valued at $49,877,000 after purchasing an additional 353,360 shares during the period. Voya Investment Management LLC grew its stake in Navan by 6,453.1% during the 3rd quarter. Voya Investment Management LLC now owns 1,305,112 shares of the company’s stock worth $27,394,000 after buying an additional 1,285,196 shares during the last quarter. Zevenbergen Capital Investments LLC grew its stake in Navan by 2,221.8% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 387,738 shares of the company’s stock worth $8,139,000 after buying an additional 371,038 shares during the last quarter. Marshall Wace LLP acquired a new position in Navan during the third quarter worth approximately $7,284,000. Finally, Renaissance Technologies LLC acquired a new position in Navan during the first quarter worth approximately $3,978,000.

Navan Company Profile

Navan, formerly known as TripActions, provides business travel and expense management software. Its platform brings together corporate travel booking and expense workflows, helping organizations manage employee travel and business spending. The company’s services include tools for booking flights, hotels and other travel, as well as expense reporting and payment capabilities. Navan also offers support for travelers and administrative tools intended to help businesses oversee travel policies and spending.