Navan (NASDAQ:NAVN) Hits New 12-Month High – Time to Buy?

Shares of Navan, Inc. (NASDAQ:NAVN) hit a new 52-week high on Thursday . The stock traded as high as $30.09 and last traded at $30.38, with a volume of 433567 shares traded. The stock had previously closed at $29.33.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NAVN. BTIG Research lifted their price target on shares of Navan from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. TD Cowen upped their price objective on shares of Navan from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Navan in a research report on Monday, June 22nd. Citizens Jmp lifted their target price on shares of Navan from $31.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, June 11th. Finally, Jefferies Financial Group boosted their target price on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. One 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 given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.79.

Navan Stock Performance

The company has a market capitalization of $7.62 billion and a price-to-earnings ratio of -13.95. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. The firm has a 50-day simple moving average of $26.16 and a two-hundred day simple moving average of $18.62.

Navan (NASDAQ:NAVN) last issued its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.20. The business had revenue of $220.23 million for the quarter. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Navan, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $25.36, for a total transaction of $227,808.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arif Janmohamed sold 77,323 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $19.06, for a total transaction of $1,473,776.38. Following the sale, the director owned 2,280,989 shares in the company, valued at approximately $43,475,650.34. This trade represents a 3.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 5,087,984 shares of company stock worth $101,833,806 over the last 90 days. Company insiders own 63.39% of the company’s stock.

Institutional Trading of Navan

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc grew its stake in Navan by 23.2% during the 2nd quarter. Versant Capital Management Inc now owns 5,785 shares of the company’s stock worth $132,000 after purchasing an additional 1,091 shares in the last quarter. Royal Bank of Canada acquired a new stake in Navan in the 4th quarter valued at about $35,000. California State Teachers Retirement System acquired a new stake in Navan in the 4th quarter valued at about $39,000. Orion Capital Management LLC purchased a new position in shares of Navan in the 2nd quarter valued at about $54,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Navan in the 4th quarter valued at about $51,000.

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.