Navan (NASDAQ:NAVN) Stock Price Expected to Rise, TD Cowen Analyst Says

Navan (NASDAQ:NAVN) had its price target raised by TD Cowen from $19.00 to $28.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 21.61% from the stock’s current price.

NAVN has been the topic of a number of other reports. Jefferies Financial Group cut their price objective on shares of Navan from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Bank of America assumed coverage on shares of Navan in a research report on Tuesday, April 7th. They set a “buy” rating and a $17.00 price target on the stock. Morgan Stanley upped their price objective on shares of Navan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Citigroup decreased their price objective on shares of Navan from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Finally, Rosenblatt Securities decreased their price target on Navan from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.79.

Navan Stock Performance

Shares of Navan stock traded up $1.66 on Tuesday, hitting $23.03. The company had a trading volume of 4,156,726 shares, compared to its average volume of 3,491,421. Navan has a 1 year low of $8.10 and a 1 year high of $23.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.07 and a quick ratio of 4.07. The stock’s 50 day simple moving average is $15.68. The firm has a market capitalization of $5.77 billion and a PE ratio of -10.63.

Navan (NASDAQ:NAVN) last announced its 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. Equities analysts anticipate that Navan will post -0.33 earnings per share for the current year.

Insider Activity at Navan

In other Navan news, President Michael Eric Sindicich sold 51,169 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $20.20, for a total value of $1,033,613.80. Following the sale, the president directly owned 549,251 shares in the company, valued at $11,094,870.20. The trade was a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ariel M. Cohen sold 151,007 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $8.62, for a total value of $1,301,680.34. Following the transaction, the chief executive officer directly owned 1,003,918 shares in the company, valued at $8,653,773.16. This represents a 13.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 253,592 shares of company stock worth $2,778,500. Insiders own 63.39% of the company’s stock.

Institutional Investors Weigh In On Navan

Several large investors have recently added to or reduced their stakes in NAVN. Royal Bank of Canada bought a new position in shares of Navan in the fourth quarter valued at approximately $35,000. California State Teachers Retirement System bought a new stake in Navan during the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. purchased a new stake in Navan in the 4th quarter worth approximately $51,000. Sunbelt Securities Inc. purchased a new stake in Navan in the 1st quarter worth approximately $71,000. Finally, New York State Common Retirement Fund bought a new position in Navan in the 4th quarter valued at $101,000.

Navan Company Profile

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.