Navan (NASDAQ:NAVN) Shares Up 4.8% – Time to Buy?

Navan, Inc. (NASDAQ:NAVN)’s share price was up 4.8% during mid-day trading on Wednesday. The stock traded as high as $22.34 and last traded at $22.37. 1,437,556 shares traded hands during trading, a decline of 57% from the average daily volume of 3,335,411 shares. The stock had previously closed at $21.34.

Analyst Ratings Changes

NAVN has been the topic of a number of research reports. Morgan Stanley raised their price target on Navan from $25.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Jefferies Financial Group lifted their target price on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. BMO Capital Markets increased 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 lifted their price objective on shares of Navan from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Finally, Mizuho upped their price objective on shares of Navan from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Navan currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Navan Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 4.38 and a quick ratio of 4.38. The stock has a 50 day moving average of $25.52 and a two-hundred day moving average of $21.36. The stock has a market capitalization of $5.78 billion and a PE ratio of -4.38.

Navan (NASDAQ:NAVN) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.17. The business had revenue of $232.79 million for the quarter. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The firm’s revenue was up 35.4% on a year-over-year basis. Research analysts expect that Navan, Inc. will post -0.29 EPS for the current fiscal year.

Insider Activity

In other Navan news, CEO Ariel M. Cohen sold 50,647 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $21.27, for a total transaction of $1,077,261.69. Following the sale, the chief executive officer directly owned 1,035,595 shares in the company, valued at approximately $22,027,105.65. The trade was a 4.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Sindicich sold 8,977 shares of the company’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 completion of the sale, the president directly owned 539,341 shares in the company, valued at $11,471,783.07. This trade represents a 1.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 489,042 shares of company stock worth $13,891,186. Company insiders own 63.39% of the company’s stock.

Institutional Trading of Navan

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new stake in Navan in the 2nd quarter valued at approximately $25,000. Corient Private Wealth LP acquired a new position in shares of Navan in the second quarter worth $1,310,000. Orion Capital Management LLC purchased a new stake in shares of Navan in the second quarter valued at $54,000. EMC Capital Management acquired a new stake in shares of Navan during the second quarter valued at $114,000. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Navan during the second quarter valued at $579,000.

About Navan

Navan, Inc is a business travel and expense management technology company that provides an integrated platform for organizations and their employees. Its services are designed to help businesses manage corporate travel, employee spending, payments and related administrative processes through a centralized digital system.

The company’s platform supports travel booking for flights, hotels, rental cars and other accommodations, along with travel policies, approval workflows and traveler support.