Navan (NASDAQ:NAVN) Stock Dropped to “Hold” by Wall Street Zen

Wall Street Zen cut shares of Navan (NASDAQ:NAVN) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other research firms also recently commented on NAVN. BTIG Research reiterated a “buy” rating and set a $30.00 price objective on shares of Navan in a research note on Thursday, September 10th. TD Cowen dropped their target price on shares of Navan from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Thursday, September 10th. Rosenblatt Securities upped their target price on shares of Navan from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Bank of America increased their price target on shares of Navan from $26.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Weiss Ratings downgraded Navan from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Navan Stock Down 2.9%

Shares of Navan stock traded down $0.77 on Friday, hitting $25.42. 1,144,879 shares of the company’s stock traded hands, compared to its average volume of 2,201,204. Navan has a 52-week low of $8.10 and a 52-week high of $30.88. The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.09. The stock has a market cap of $6.62 billion and a P/E ratio of -5.02. The firm’s 50-day moving average is $23.87 and its 200 day moving average is $19.99.

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

Insider Buying and Selling

In other Navan news, CEO Ariel M. Cohen sold 225,000 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.14, for a total transaction of $6,781,500.00. Following the completion of the sale, the chief executive officer owned 1,086,242 shares in the company, valued at $32,739,333.88. The trade was a 17.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Michael Sindicich sold 8,977 shares of the 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 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 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. Insiders have sold 497,075 shares of company stock worth $14,101,088 over the last ninety days. 63.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP acquired a new stake in Navan during the third quarter worth about $7,284,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Navan by 17.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,376,203 shares of the company’s stock valued at $49,877,000 after acquiring an additional 353,360 shares during the period. Advisors Asset Management Inc. acquired a new position in Navan in the third quarter valued at approximately $382,000. Voya Investment Management LLC boosted its stake in Navan by 6,453.1% in the third quarter. Voya Investment Management LLC now owns 1,305,112 shares of the company’s stock valued at $27,394,000 after acquiring an additional 1,285,196 shares during the period. Finally, Public Sector Pension Investment Board bought a new position in shares of Navan during the third quarter valued at approximately $2,099,000.

Navan Company Profile

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.