Navan (NASDAQ:NAVN) Raised to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Navan to “buy” from “hold.” Other analysts are also broadly positive, giving the stock a consensus “Moderate Buy” rating and an average price target of $30.50.
• Navan reported quarterly EPS of $0.05, beating the $0.12-per-share loss analysts expected, while revenue rose 35.4% year over year to $232.79 million. Despite the improvement, the company remains unprofitable, with a negative net margin of 42.11%.
• Navan shares opened at $26.10, below the 52-week high of $30.88. Insiders sold approximately $13.9 million worth of shares over the past 90 days, while several institutional investors increased their positions.

Navan (NASDAQ:NAVN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Rosenblatt Securities upped their price target 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. Citizens Jmp restated a "market outperform" rating and set a $38.00 price target on shares of Navan in a research report on Thursday, September 10th. BNP Paribas Exane upped their target price on Navan from $27.00 to $30.00 and gave the stock an "outperform" rating in a research note on Monday, July 13th. Oppenheimer lifted their price objective on Navan from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Finally, BTIG Research reiterated a "buy" rating and issued a $30.00 target price on shares of Navan in a research report on Thursday, September 10th. One 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 assigned a Sell rating to the company's stock. According to MarketBeat, Navan currently has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Navan Trading Down 2.0%

Shares of Navan stock opened at $26.10 on Friday. Navan has a 52 week low of $8.10 and a 52 week high of $30.88. The stock's fifty day moving average is $24.48 and its two-hundred day moving average is $19.46. The company has a quick ratio of 4.38, a current ratio of 4.38 and a debt-to-equity ratio of 0.09.

Navan (NASDAQ:NAVN - Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.17. Navan had a negative return on equity of 13.91% and a negative net margin of 42.11%. The company had revenue of $232.79 million for the quarter. Navan's quarterly revenue was up 35.4% compared to the same quarter last year. Sell-side analysts predict that Navan will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ariel M. Cohen sold 225,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $30.14, for a total transaction of $6,781,500.00. Following the sale, the chief executive officer owned 1,086,242 shares of the company's stock, valued at approximately $32,739,333.88. This trade represents a 17.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Ilan Twig sold 36,040 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $21.27, for a total transaction of $766,570.80. Following the sale, the chief technology officer owned 769,820 shares of the company's stock, valued at $16,374,071.40. This represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 489,042 shares of company stock worth $13,891,186 in the last 90 days. Corporate insiders own 63.39% of the company's stock.

Institutional Investors Weigh In On Navan

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of Navan by 733.7% during the first quarter. Bank of America Corp DE now owns 210,524 shares of the company's stock worth $2,787,000 after purchasing an additional 185,271 shares during the last quarter. Zevenbergen Capital Investments LLC boosted its position in Navan by 2,221.8% during the 3rd quarter. Zevenbergen Capital Investments LLC now owns 387,738 shares of the company's stock worth $8,139,000 after purchasing an additional 371,038 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Navan in the first quarter valued at about $1,531,000. Teachers Retirement System of The State of Kentucky grew its position in Navan by 812.0% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 118,875 shares of the company's stock valued at $1,574,000 after acquiring an additional 105,841 shares in the last quarter. Finally, Corient Private Wealth LP acquired a new position in Navan in the 2nd quarter worth $1,310,000.

About Navan

Navan, Inc is a travel and expense management technology company that provides software and services for businesses and their employees. The company's platform is designed to bring corporate travel booking, expense management, payments and related administrative functions into a unified system.

Navan's products include tools for booking flights, hotels, rental cars and other business travel, as well as expense reporting, reimbursement and corporate card management. Its platform also offers travel-policy controls, reporting and automation features intended to help companies manage spending and support employees during business trips.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and adopted the Navan name in 2023.

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