Telenav (TNAV) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Telenav (NASDAQ:TNAV) from a sell rating to a hold rating in a research note released on Friday, January 5th.

According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “

Other analysts also recently issued reports about the company. Craig Hallum set a $9.00 price objective on Telenav and gave the company a buy rating in a report on Thursday, December 21st. B. Riley reissued a buy rating and set a $11.00 price objective on shares of Telenav in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $11.25.

Shares of Telenav (NASDAQ TNAV) traded up $0.10 during mid-day trading on Friday, hitting $5.70. The company had a trading volume of 122,900 shares, compared to its average volume of 69,129. Telenav has a fifty-two week low of $4.50 and a fifty-two week high of $10.15. The company has a market capitalization of $252.58, a PE ratio of -4.60 and a beta of 0.87.

Telenav (NASDAQ:TNAV) last released its earnings results on Thursday, November 2nd. The technology company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.06). The business had revenue of $36.66 million for the quarter, compared to the consensus estimate of $36.84 million. Telenav had a negative return on equity of 41.16% and a negative net margin of 32.94%. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.22) earnings per share. research analysts expect that Telenav will post -1.4 EPS for the current year.

Large investors have recently bought and sold shares of the business. B. Riley Financial Inc. lifted its holdings in shares of Telenav by 131.7% during the 3rd quarter. B. Riley Financial Inc. now owns 869,660 shares of the technology company’s stock worth $5,522,000 after acquiring an additional 494,267 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Telenav by 8.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 139,717 shares of the technology company’s stock worth $887,000 after acquiring an additional 10,650 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Telenav by 28.9% during the 3rd quarter. New York State Common Retirement Fund now owns 347,305 shares of the technology company’s stock worth $2,205,000 after acquiring an additional 77,900 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Telenav by 28.4% during the 3rd quarter. Prudential Financial Inc. now owns 69,535 shares of the technology company’s stock worth $442,000 after acquiring an additional 15,400 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of Telenav by 44.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 244,268 shares of the technology company’s stock worth $1,551,000 after acquiring an additional 75,088 shares during the last quarter. Hedge funds and other institutional investors own 53.75% of the company’s stock.

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About Telenav

TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.

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