Key Points
- Navan CTO Ilan Twig sold 36,040 shares for approximately $766,571 at an average price of $21.27. The sale covered tax-withholding obligations tied to vested equity awards, leaving him with 769,820 shares.
- Navan shares opened at $19.66 and were reported down 6.2%, while the company carries a $5.12 billion market capitalization. Its latest quarter exceeded expectations, with adjusted earnings of $0.05 per share and revenue of $232.79 million, up 35.4% year over year.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $30.50, compared with the reported share price.
Navan, Inc. (NASDAQ:NAVN - Get Free Report) President Michael Sindicich sold 8,977 shares of the firm's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $21.27, for a total value of $190,940.79. Following the sale, the president directly owned 539,341 shares of the company's stock, valued at $11,471,783.07. This represents a 1.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Navan Price Performance
NASDAQ:NAVN opened at $19.66 on Thursday. Navan, Inc. has a one year low of $8.10 and a one year high of $30.88. The company has a market cap of $5.12 billion and a P/E ratio of -3.89. The firm's fifty day moving average price is $26.33 and its two-hundred day moving average price is $20.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38.
Navan (NASDAQ:NAVN - Get Free Report) last posted its earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.17. The company had revenue of $232.79 million during the quarter. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The business's revenue was up 35.4% on a year-over-year basis. Equities analysts expect that Navan, Inc. will post -0.29 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. BTIG Research restated a "buy" rating and set a $30.00 price objective on shares of Navan in a research report on Thursday, September 10th. Jefferies Financial Group upped their target price on Navan from $18.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Oppenheimer increased their target price on Navan from $30.00 to $35.00 and gave the stock an "outperform" rating in a research note on Thursday, August 27th. Rosenblatt Securities lifted their price target on Navan from $27.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, September 10th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Navan in a report on Wednesday, September 9th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.50.
Read Our Latest Research Report on Navan
Institutional Trading of Navan
A number of institutional investors have recently bought and sold shares of NAVN. Integrated Wealth Concepts LLC acquired a new position in shares of Navan during the 2nd quarter worth approximately $25,000. Orion Capital Management LLC bought a new position in shares of Navan during the second quarter worth approximately $54,000. EMC Capital Management acquired a new stake in shares of Navan in the second quarter valued at approximately $114,000. Sunbelt Securities Inc. acquired a new stake in shares of Navan in the first quarter valued at approximately $71,000. Finally, Versant Capital Management Inc boosted its stake in shares of Navan by 23.2% in the second quarter. Versant Capital Management Inc now owns 5,785 shares of the company's stock valued at $132,000 after buying an additional 1,091 shares during the period.
About Navan
(
Get Free Report)
Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.
Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.
The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.
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