Navan (NASDAQ:NAVN) Reaches New 1-Year Low – What’s Next?

Navan, Inc. (NASDAQ:NAVN) hit a new 52-week low on Tuesday . The company traded as low as $9.74 and last traded at $9.77, with a volume of 311822 shares trading hands. The stock had previously closed at $10.44.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NAVN shares. Rosenblatt Securities reissued a “buy” rating and set a $30.00 target price on shares of Navan in a research note on Friday, December 12th. Needham & Company LLC reiterated a “buy” rating on shares of Navan in a report on Monday, December 15th. Citizens Jmp reissued a “market outperform” rating and set a $25.00 target price on shares of Navan in a report on Tuesday, December 23rd. Jefferies Financial Group set a $20.00 target price on Navan in a research report on Tuesday, December 16th. Finally, Citigroup assumed coverage on Navan in a research report on Monday, November 24th. They set a “buy” rating and a $26.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.36.

Navan Stock Down 4.5%

The firm has a market cap of $2.48 billion and a PE ratio of -5.09. The business has a 50-day moving average of $14.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.49 and a current ratio of 4.49.

Insider Buying and Selling

In other news, Director Benjamin A. Horowitz acquired 46,337 shares of Navan stock in a transaction on Wednesday, January 7th. The stock was bought at an average cost of $18.11 per share, with a total value of $839,163.07. Following the completion of the purchase, the director owned 8,346,792 shares of the company’s stock, valued at $151,160,403.12. This represents a 0.56% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen bought 46,337 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was purchased at an average cost of $18.11 per share, for a total transaction of $839,163.07. Following the completion of the transaction, the insider owned 8,346,792 shares of the company’s stock, valued at $151,160,403.12. This represents a 0.56% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 5,644,482 shares of company stock valued at $86,979,947 over the last ninety days.

Hedge Funds Weigh In On Navan

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Navan during the 4th quarter worth approximately $270,000. FNY Investment Advisers LLC acquired a new stake in shares of Navan in the fourth quarter worth $115,000. Lunate Capital Ltd acquired a new stake in shares of Navan in the fourth quarter worth $3,416,000. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Navan during the fourth quarter valued at $256,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Navan during the fourth quarter valued at $257,000.

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.