Brokerages Anticipate Telenav Inc (NASDAQ:TNAV) Will Announce Quarterly Sales of $56.26 Million

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Equities analysts expect that Telenav Inc (NASDAQ:TNAV) will report $56.26 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Telenav’s earnings, with estimates ranging from $56.01 million to $56.50 million. Telenav reported sales of $57.18 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The firm is expected to report its next quarterly earnings results on Thursday, February 6th.

On average, analysts expect that Telenav will report full year sales of $238.46 million for the current year, with estimates ranging from $231.52 million to $245.40 million. For the next fiscal year, analysts expect that the company will post sales of $248.03 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Telenav.

A number of research firms have weighed in on TNAV. Craig Hallum lowered shares of Telenav from a “buy” rating to a “hold” rating and decreased their target price for the stock from $13.00 to $5.00 in a research note on Thursday, September 5th. BidaskClub raised Telenav from a “hold” rating to a “buy” rating in a report on Monday, November 25th. B. Riley dropped their price objective on Telenav from $10.50 to $7.50 and set a “buy” rating on the stock in a report on Friday, September 6th. ValuEngine cut Telenav from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research upgraded Telenav from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.88.

In other Telenav news, CEO H.P. Jin acquired 50,000 shares of Telenav stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $4.90 per share, for a total transaction of $245,000.00. Following the transaction, the chief executive officer now owns 2,273,927 shares in the company, valued at approximately $11,142,242.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Philipp Wolfgang Josef Kandal sold 10,000 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $10.40, for a total value of $104,000.00. Following the sale, the senior vice president now directly owns 164,590 shares of the company’s stock, valued at $1,711,736. The disclosure for this sale can be found here. 21.32% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its holdings in Telenav by 275.2% in the 2nd quarter. Bank of Montreal Can now owns 3,673 shares of the technology company’s stock valued at $30,000 after acquiring an additional 2,694 shares in the last quarter. Quantamental Technologies LLC grew its holdings in shares of Telenav by 1,452.7% in the 2nd quarter. Quantamental Technologies LLC now owns 4,658 shares of the technology company’s stock worth $37,000 after purchasing an additional 4,358 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Telenav in the second quarter valued at approximately $50,000. Royal Bank of Canada boosted its stake in Telenav by 42.1% in the second quarter. Royal Bank of Canada now owns 6,562 shares of the technology company’s stock worth $52,000 after purchasing an additional 1,945 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Telenav during the third quarter worth approximately $64,000. 51.24% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ TNAV traded down $0.04 on Friday, hitting $5.27. 12,248 shares of the company’s stock traded hands, compared to its average volume of 379,700. Telenav has a 1-year low of $3.35 and a 1-year high of $11.67. The firm has a market capitalization of $277.80 million, a PE ratio of -8.12 and a beta of 0.45. The firm’s 50-day moving average price is $4.92 and its two-hundred day moving average price is $7.13. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.07.

Telenav Company Profile

Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.

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