Navan (NASDAQ:NAVN) Hits New 52-Week High – Still a Buy?

Navan, Inc. (NASDAQ:NAVN) shares hit a new 52-week high on Thursday . The company traded as high as $30.09 and last traded at $30.38, with a volume of 433567 shares traded. The stock had previously closed at $29.33.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of Navan from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, June 12th. Bank of America upped their target price on shares of Navan from $20.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. BMO Capital Markets lifted their price target on Navan from $22.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Rosenblatt Securities upped their price objective on Navan from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, Jefferies Financial Group raised their price objective on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.79.

Navan Trading Down 6.8%

The company has a market cap of $7.25 billion and a price-to-earnings ratio of -13.26. 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 business’s 50 day moving average price is $26.47 and its 200-day moving average price is $18.83.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, equities analysts anticipate that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Insider Transactions at Navan

In related news, Director Arif Janmohamed sold 1,019,900 shares of Navan stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $20,398,000.00. Following the completion of the sale, the director directly owned 3,761,089 shares of the company’s stock, valued at approximately $75,221,780. This trade represents a 21.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the completion of the sale, the insider owned 3,761,089 shares of the company’s stock, valued at $75,221,780. This trade represents a 21.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 5,087,984 shares of company stock worth $101,833,806 in the last ninety days. 63.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Navan

Institutional investors have recently modified their holdings of the business. Corient Private Wealth LP bought a new position in Navan during the second quarter worth about $1,310,000. California State Teachers Retirement System boosted its holdings in Navan by 1,523.7% in the 2nd quarter. California State Teachers Retirement System now owns 32,864 shares of the company’s stock valued at $752,000 after purchasing an additional 30,840 shares during the period. Orion Capital Management LLC acquired a new position in shares of Navan during the 2nd quarter worth approximately $54,000. EMC Capital Management acquired a new position in shares of Navan during the 2nd quarter worth approximately $114,000. Finally, Handelsbanken Fonder AB bought a new position in shares of Navan during the second quarter worth approximately $579,000.

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.