Navan (NASDAQ:NAVN) Stock Rating Cut to Hold at Wall Street Zen

Navan (NASDAQ:NAVN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

NAVN has been the topic of a number of other research reports. Rosenblatt Securities raised 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. Weiss Ratings cut Navan from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. TD Cowen reduced their price objective on Navan from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, September 10th. Citizens Jmp reaffirmed a “market outperform” rating and set a $38.00 price objective on shares of Navan in a research note on Thursday, September 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Navan in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Navan presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Navan Stock Performance

Shares of NASDAQ:NAVN opened at $25.42 on Friday. Navan has a 1-year low of $8.10 and a 1-year high of $30.88. The company has a current ratio of 4.38, a quick ratio of 4.38 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $23.87 and a 200 day moving average price of $19.99.

Navan (NASDAQ:NAVN) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.17. Navan had a negative net margin of 42.11% and a negative return on equity of 13.91%. The company had revenue of $232.79 million for the quarter. The business’s revenue was up 35.4% compared to the same quarter last year. On average, equities analysts anticipate that Navan will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at Navan

In other Navan news, CTO Ilan Twig sold 36,040 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 transaction of $766,570.80. Following the completion of the transaction, the chief technology officer owned 769,820 shares in the company, valued at approximately $16,374,071.40. This represents a 4.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 firm’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 $190,940.79. Following the completion of the sale, the president owned 539,341 shares of the company’s stock, 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 have sold 497,075 shares of company stock valued at $14,101,088. 63.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Navan

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Navan by 13.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,650 shares of the company’s stock worth $77,000 after buying an additional 420 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Navan by 23.2% in the 2nd 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. Integrated Wealth Concepts LLC acquired a new stake in shares of Navan in the 2nd quarter valued at approximately $25,000. Pier 88 Investment Partners LLC boosted its stake in shares of Navan by 7.3% in the third quarter. Pier 88 Investment Partners LLC now owns 29,500 shares of the company’s stock valued at $619,000 after buying an additional 2,000 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new stake in shares of Navan in the second quarter valued at approximately $54,000.

About Navan

Navan, formerly known as TripActions, provides business travel and expense management software. Its platform brings together corporate travel booking and expense workflows, helping organizations manage employee travel and business spending. The company’s services include tools for booking flights, hotels and other travel, as well as expense reporting and payment capabilities. Navan also offers support for travelers and administrative tools intended to help businesses oversee travel policies and spending.