Navan (NASDAQ:NAVN) Stock Price Up 6.6% – Time to Buy?

Navan, Inc. (NASDAQ:NAVN) shares traded up 6.6% on Monday . The company traded as high as $27.83 and last traded at $27.6740. 1,486,190 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 3,317,772 shares. The stock had previously closed at $25.96.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NAVN shares. BTIG Research increased their target price on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. BNP Paribas Exane upped their price target on Navan from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Jefferies Financial Group raised their price objective on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Oppenheimer set a $30.00 target price on Navan in a research note on Thursday, June 11th. Finally, BMO Capital Markets increased their target price on Navan from $22.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.07.

Navan Trading Up 6.9%

The company has a fifty day moving average of $21.96 and a 200-day moving average of $16.12. 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 company has a market capitalization of $7.06 billion and a price-to-earnings ratio of -12.91.

Navan (NASDAQ:NAVN) last issued its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The company’s revenue for the quarter was up 39.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ariel M. Cohen sold 41,530 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $874,621.80. Following the completion of the sale, the chief executive officer owned 1,254,731 shares of the company’s stock, valued at approximately $26,424,634.86. This represents a 3.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Eric Sindicich sold 2,176 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $21.06, for a total transaction of $45,826.56. Following the completion of the sale, the president owned 548,318 shares of the company’s stock, valued at approximately $11,547,577.08. The trade was a 0.40% 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 sold 5,139,153 shares of company stock valued at $102,867,420. Corporate insiders own 63.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NAVN. Royal Bank of Canada acquired a new stake in shares of Navan in the fourth quarter valued at approximately $35,000. California State Teachers Retirement System purchased a new stake in Navan in the 4th quarter valued at $39,000. Russell Investments Group Ltd. acquired a new stake in shares of Navan in the 4th quarter worth $51,000. Sunbelt Securities Inc. purchased a new position in shares of Navan during the 1st quarter worth $71,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Navan during the 4th quarter valued at about $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.