Navan (NASDAQ:NAVN) Shares Gap Down - What's Next?

Key Points

• Navan shares gapped down premarket from $15.06 to $14.33 and last traded around $15.02 on volume of approximately 216,000 shares.
• Analysts are mixed but the consensus is a "Moderate Buy" with a consensus price target of $21.00, with individual targets ranging from $15 (BMO) to $23 (Goldman Sachs).
• The company posted an EPS beat (Q: $0.02 vs. -$0.24 est.) and revenue of $177.9M (+34.8% YoY), while insiders sold roughly 245,600 shares (~$2.21M) in the last quarter.

Navan, Inc. (NASDAQ:NAVN - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $15.06, but opened at $14.33. Navan shares last traded at $15.0150, with a volume of 216,351 shares.

Analysts Set New Price Targets

Several research firms have recently issued reports on NAVN. Weiss Ratings started coverage on shares of Navan in a report on Tuesday, January 27th. They issued a "sell (d)" rating for the company. BMO Capital Markets lifted their price objective on shares of Navan from $13.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, March 26th. Zacks Research upgraded shares of Navan to a "hold" rating in a report on Friday, December 26th. The Goldman Sachs Group lifted their price objective on shares of Navan from $22.00 to $23.00 and gave the company a "buy" rating in a report on Friday, March 27th. Finally, Jefferies Financial Group decreased their price objective on shares of Navan from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

Navan Trading Up 0.5%

The company has a current ratio of 4.07, a quick ratio of 4.07 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3.80 billion and a price-to-earnings ratio of -7.24. The business's 50-day moving average price is $10.89.

Navan (NASDAQ:NAVN - Get Free Report) last posted its earnings results on Wednesday, March 25th. The company reported $0.02 EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.26. The business had revenue of $177.92 million for the quarter. The company's quarterly revenue was up 34.8% on a year-over-year basis.

Insider Buying and Selling at Navan

In other Navan news, CTO Ilan Ezra Twig sold 49,210 shares of the firm's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $8.62, for a total transaction of $424,190.20. Following the transaction, the chief technology officer owned 538,012 shares of the company's stock, valued at approximately $4,637,663.44. This trade represents a 8.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Eric Sindicich sold 9,349 shares of the firm's stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $13.86, for a total transaction of $129,577.14. Following the transaction, the president directly owned 310,514 shares in the company, valued at $4,303,724.04. This trade represents a 2.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 245,597 shares of company stock worth $2,208,060.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NAVN. Royal Bank of Canada purchased a new position in shares of Navan in the 4th quarter worth approximately $35,000. California State Teachers Retirement System purchased a new position in shares of Navan in the 4th quarter worth approximately $39,000. Russell Investments Group Ltd. purchased a new position in shares of Navan in the 4th quarter worth approximately $51,000. New York State Common Retirement Fund purchased a new position in shares of Navan in the 4th quarter worth approximately $101,000. Finally, Strs Ohio purchased a new stake in Navan during the 4th quarter worth approximately $113,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.