Navan (NASDAQ:NAVN) Hits New 12-Month High - Still a Buy?

Key Points

• Navan shares reached a new 52-week high of $28.42, trading up 1.3%, with a market capitalization of approximately $7.18 billion.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $29.07; recent targets range as high as $38.
• Navan reported quarterly EPS of $0.08, beating estimates by $0.20, while revenue rose 39.8% year over year to $220.23 million. However, insiders have sold more than 5.1 million shares worth about $102.9 million over the past 90 days.

Shares of Navan, Inc. (NASDAQ:NAVN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.42 and last traded at $28.2530, with a volume of 1424 shares traded. The stock had previously closed at $27.87.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Citizens Jmp increased their price objective on Navan from $31.00 to $38.00 and gave the company a "market outperform" rating in a report on Thursday, June 11th. BTIG Research upped their target price on Navan from $26.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. The Goldman Sachs Group upgraded shares of Navan from a "buy" rating to a "buy" rating in a report on Monday, June 8th. Oppenheimer set a $30.00 price objective on shares of Navan in a research note on Thursday, June 11th. Finally, Jefferies Financial Group upped their price objective on shares of Navan from $18.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, June 11th. One 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 given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $29.07.

Navan Trading Up 1.3%

The company has a current ratio of 4.31, a quick ratio of 4.31 and a debt-to-equity ratio of 0.10. The firm has a market cap of $7.18 billion and a price-to-earnings ratio of -13.13. The company has a fifty day moving average price of $23.68 and a 200-day moving average price of $16.86.

Navan (NASDAQ:NAVN - Get Free Report) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.20. The company had revenue of $220.23 million for the quarter. Navan's revenue was up 39.8% compared to the same quarter last year. As a group, research analysts expect that Navan, Inc. will post -0.37 EPS for the current year.

Insider Activity

In other Navan news, major shareholder Lightspeed Venture Partners Se sold 1,019,900 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $20.00, for a total value of $20,398,000.00. Following the completion of the transaction, the insider owned 3,761,089 shares in the company, valued at approximately $75,221,780. This represents a 21.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ariel M. Cohen sold 41,530 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total transaction of $874,621.80. Following the sale, the chief executive officer directly owned 1,254,731 shares in the company, valued at approximately $26,424,634.86. The trade was a 3.20% 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. In the last 90 days, insiders have sold 5,139,153 shares of company stock valued at $102,867,420. 63.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navan

Institutional investors and hedge funds have recently modified their holdings of the business. Napean Trading & Investment Co Singapore PTE Ltd acquired a new stake in Navan in the fourth quarter valued at approximately $100,332,000. Dragoneer Investment Group LLC acquired a new stake in Navan in the 4th quarter valued at $35,791,000. Teacher Retirement System of Texas purchased a new stake in Navan in the 4th quarter worth $8,540,000. Teachers Retirement System of The State of Kentucky raised its position in Navan by 812.0% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 118,875 shares of the company's stock worth $1,574,000 after acquiring an additional 105,841 shares during the period. Finally, Alkeon Capital Management LLC acquired a new position in Navan during the fourth quarter worth $45,891,000.

About Navan

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.

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