Navan (NASDAQ:NAVN) Reaches New 12-Month High – Should You Buy?

Navan, Inc. (NASDAQ:NAVN)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.79 and last traded at $24.6880, with a volume of 2443930 shares traded. The stock had previously closed at $22.87.

Wall Street Analyst Weigh In

NAVN has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Navan in a report on Monday, June 22nd. Citizens Jmp boosted their target price on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, June 11th. Rosenblatt Securities increased their price target on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. BTIG Research lifted their price target on Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Morgan Stanley boosted their price objective on Navan from $25.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.64.

Navan Stock Performance

The stock has a market cap of $6.53 billion and a price-to-earnings ratio of -11.94. The firm’s 50 day moving average is $20.00 and its two-hundred day moving average is $15.27. The company has a quick ratio of 4.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.10.

Navan (NASDAQ:NAVN) last issued its 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. Navan’s quarterly revenue was up 39.8% compared to the same quarter last year. Equities analysts anticipate that Navan, Inc. will post -0.37 EPS for the current year.

Insiders Place Their Bets

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 10,569 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.65, for a total value of $260,525.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ariel M. Cohen sold 41,530 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $21.06, for a total value of $874,621.80. Following the completion of the sale, the chief executive officer owned 1,254,731 shares in the company, valued at $26,424,634.86. The trade was a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 5,130,170 shares of company stock worth $102,639,611. 63.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Navan

Several hedge funds and other institutional investors have recently modified their holdings of NAVN. Napean Trading & Investment Co Singapore PTE Ltd acquired a new position in Navan during the 4th quarter valued at about $100,332,000. Dragoneer Investment Group LLC acquired a new stake in shares of Navan in the fourth quarter valued at approximately $35,791,000. Teacher Retirement System of Texas acquired a new stake in shares of Navan in the fourth quarter valued at approximately $8,540,000. Alkeon Capital Management LLC bought a new stake in shares of Navan during the fourth quarter valued at approximately $45,891,000. Finally, Cosmic Management LLC bought a new stake in shares of Navan during the fourth quarter valued at approximately $121,930,000.

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.