Morgan Stanley Increases Navan (NASDAQ:NAVN) Price Target to $25.00

Navan (NASDAQ:NAVN) had its target price lifted by research analysts at Morgan Stanley from $20.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 38.67% from the company’s current price.

A number of other equities research analysts have also recently weighed in on NAVN. Weiss Ratings began coverage on shares of Navan in a report on Tuesday, January 27th. They issued a “sell (d)” rating on the stock. The Goldman Sachs Group upped their price objective on shares of Navan from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, March 27th. TD Cowen initiated coverage on Navan in a research note on Wednesday, April 15th. They issued a “buy” rating and a $18.00 target price on the stock. Bank of America began coverage on Navan in a report on Tuesday, April 7th. They set a “buy” rating and a $17.00 price target for the company. Finally, Oppenheimer lifted their price target on Navan from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Navan has an average rating of “Moderate Buy” and an average price target of $21.57.

Navan Stock Performance

Shares of NASDAQ NAVN traded down $0.31 during midday trading on Tuesday, hitting $18.03. 2,059,500 shares of the company traded hands, compared to its average volume of 2,451,135. Navan has a 12-month low of $8.10 and a 12-month high of $22.75. The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $11.89. The company has a market capitalization of $4.52 billion and a price-to-earnings ratio of -8.73.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, March 25th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.26. The company had revenue of $177.92 million for the quarter. The business’s revenue was up 34.8% on a year-over-year basis. As a group, equities analysts expect that Navan will post -0.33 earnings per share for the current year.

Insider Transactions at Navan

In other news, insider Anne Mary Giviskos sold 31,150 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $9.52, for a total value of $296,548.00. Following the sale, the insider directly owned 74,940 shares in the company, valued at $713,428.80. The trade was a 29.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ariel M. Cohen sold 151,007 shares of Navan stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $8.62, for a total transaction of $1,301,680.34. Following the transaction, the chief executive officer directly owned 1,003,918 shares of the company’s stock, valued at approximately $8,653,773.16. This represents a 13.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,573 shares of company stock worth $2,041,434 in the last three months.

Institutional Investors Weigh In On Navan

Large investors have recently modified their holdings of the business. Royal Bank of Canada bought a new stake in shares of Navan in the 4th quarter valued at about $35,000. California State Teachers Retirement System bought a new position in shares of Navan during the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. bought a new position in shares of Navan during the 4th quarter worth approximately $51,000. New York State Common Retirement Fund bought a new position in shares of Navan during the 4th quarter worth approximately $101,000. Finally, Strs Ohio bought a new position in shares of Navan during the 4th quarter worth approximately $113,000.

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.