Brokerages Set Navan, Inc. (NASDAQ:NAVN) Price Target at $22.07

Shares of Navan, Inc. (NASDAQ:NAVN) have earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.0714.

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Navan from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, March 27th. Oppenheimer lifted their price target on shares of Navan from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Morgan Stanley boosted their price objective on shares of Navan from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Bank of America initiated coverage on shares of Navan in a research report on Tuesday, April 7th. They set a “buy” rating and a $17.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Navan from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, March 26th.

Navan Stock Performance

NASDAQ NAVN opened at $19.88 on Monday. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.10. Navan has a 1-year low of $8.10 and a 1-year high of $22.75. The company has a 50 day simple moving average of $14.30. The firm has a market capitalization of $4.99 billion and a P/E ratio of -9.51.

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

Insider Buying and Selling at Navan

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada acquired a new position in Navan during the fourth quarter valued at approximately $35,000. California State Teachers Retirement System acquired a new position in shares of Navan during the fourth quarter worth $39,000. Russell Investments Group Ltd. acquired a new position in shares of Navan during the fourth quarter worth $51,000. Sunbelt Securities Inc. acquired a new position in shares of Navan during the first quarter worth $71,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Navan during the fourth quarter worth $101,000.

About Navan

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.