BMO Capital Markets Forecasts Strong Price Appreciation for Navan (NASDAQ:NAVN) Stock

Navan (NASDAQ:NAVN) had its target price increased by equities researchers at BMO Capital Markets from $18.00 to $22.00 in a report issued on Thursday. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 21.75% from the stock’s current price.

Several other analysts have also recently issued reports on the company. TD Cowen initiated coverage on Navan in a research note on Wednesday, April 15th. They issued a “buy” rating and a $18.00 price objective on the stock. The Goldman Sachs Group boosted their target price on Navan from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Oppenheimer increased their price target on Navan from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, April 21st. Citigroup decreased their price objective on Navan from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Finally, Morgan Stanley boosted their price objective on Navan from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.07.

Navan Stock Down 2.3%

Shares of NAVN opened at $18.07 on Thursday. The stock has a market cap of $4.53 billion and a P/E ratio of -8.65. Navan has a fifty-two week low of $8.10 and a fifty-two week high of $22.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.07 and a current ratio of 4.07. The business’s 50 day simple moving average is $13.09.

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

Insider Transactions at Navan

In related news, insider Anne Mary Giviskos sold 31,150 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $9.52, for a total transaction of $296,548.00. Following the completion of the transaction, the insider owned 74,940 shares in the company, valued at approximately $713,428.80. The trade was a 29.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ariel M. Cohen sold 151,007 shares of the 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 completion of the transaction, the chief executive officer directly owned 1,003,918 shares in the company, valued at $8,653,773.16. This trade represents a 13.08% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 233,573 shares of company stock valued at $2,041,434.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NAVN. Royal Bank of Canada acquired a new stake in shares of Navan during the 4th quarter worth about $35,000. California State Teachers Retirement System acquired a new position in Navan in the fourth quarter valued at approximately $39,000. Russell Investments Group Ltd. purchased a new position in Navan in the fourth quarter valued at approximately $51,000. Strs Ohio increased its stake in Navan by 86.4% in the first quarter. Strs Ohio now owns 12,300 shares of the company’s stock valued at $163,000 after purchasing an additional 5,700 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in Navan during the fourth quarter worth approximately $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.