Navan (NASDAQ:NAVN) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Navan (NASDAQ:NAVN) in a report issued on Monday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $30.00 price objective on the stock.

A number of other brokerages have also issued reports on NAVN. JMP Securities set a $25.00 target price on shares of Navan in a research note on Monday, November 24th. Loop Capital raised Navan to a “strong-buy” rating in a report on Monday, November 24th. Zacks Research upgraded Navan to a “hold” rating in a research note on Friday, December 26th. Oppenheimer initiated coverage on Navan in a research report on Monday, November 24th. They issued an “outperform” rating and a $25.00 target price for the company. Finally, Citigroup started coverage on Navan in a report on Monday, November 24th. They issued a “buy” rating and a $26.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $25.00.

Navan Stock Down 9.2%

NAVN opened at $15.66 on Monday. Navan has a 12-month low of $11.76 and a 12-month high of $22.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49. The firm has a market capitalization of $3.89 billion and a P/E ratio of -7.99.

Insider Activity

In related news, major shareholder Horowitz Fund V. L. Andreessen purchased 347,600 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average cost of $12.65 per share, for a total transaction of $4,397,140.00. Following the transaction, the insider owned 5,922,151 shares of the company’s stock, valued at $74,915,210.15. This trade represents a 6.24% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen purchased 466,058 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was bought at an average cost of $16.27 per share, for a total transaction of $7,582,763.66. Following the acquisition, the insider owned 7,789,538 shares in the company, valued at approximately $126,735,783.26. The trade was a 6.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 5,644,482 shares of company stock valued at $86,979,947.

Hedge Funds Weigh In On Navan

An institutional investor recently bought a new position in Navan stock. SG Americas Securities LLC acquired a new position in Navan, Inc. (NASDAQ:NAVN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,829 shares of the company’s stock, valued at approximately $270,000.

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.