Navan (NASDAQ:NAVN) Shares Down 6.6% - What's Next?

Key Points

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Navan, Inc. (NASDAQ:NAVN - Get Free Report)'s stock price traded down 6.6% on Wednesday . The company traded as low as $20.41 and last traded at $19.5920. 258,390 shares were traded during mid-day trading, a decline of 92% from the average session volume of 3,344,472 shares. The stock had previously closed at $20.97.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America upped their price objective on shares of Navan from $26.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. BMO Capital Markets boosted their target price on Navan from $22.00 to $30.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. BTIG Research restated a "buy" rating and set a $30.00 price objective on shares of Navan in a research report on Thursday, September 10th. Needham & Company LLC reaffirmed a "buy" rating on shares of Navan in a report on Thursday, September 10th. Finally, Mizuho boosted their target price on Navan from $25.00 to $30.00 and gave the stock an "outperform" rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.50.

Navan Stock Down 5.1%

The company has a market cap of $5.18 billion and a PE ratio of -3.94. The company has a fifty day moving average of $26.44 and a two-hundred day moving average of $20.58. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.38 and a current ratio of 4.38.

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

Insider Buying and Selling

In related news, major shareholder Lightspeed Venture Partners Se sold 8,983 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $25.36, for a total value of $227,808.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ariel M. Cohen sold 225,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $30.14, for a total value of $6,781,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,086,242 shares in the company, valued at approximately $32,739,333.88. This trade represents a 17.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 412,930 shares of company stock valued at $12,344,748 over the last three months. 63.39% of the stock is owned by corporate insiders.

Institutional Trading of Navan

A number of hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new stake in Navan during the second quarter worth $25,000. Orion Capital Management LLC purchased a new position in shares of Navan in the 2nd quarter valued at $54,000. EMC Capital Management bought a new position in shares of Navan in the 2nd quarter worth $114,000. Sunbelt Securities Inc. purchased a new stake in shares of Navan during the 1st quarter worth $71,000. Finally, Versant Capital Management Inc lifted its stake in shares of 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 during the last quarter.

Navan Company Profile

Navan, Inc is a business travel and expense management technology company. The company provides an integrated platform that helps organizations plan and book business travel, manage travel-related spending, and streamline expense reporting and reimbursement.

Its products and services include corporate travel booking, lodging and transportation reservations, expense management tools, payment and corporate card capabilities, travel policy controls, and reporting solutions. Navan also uses automation and artificial intelligence to assist employees with trip planning and help companies manage travel programs and spending.

The company was founded in 2015 as TripActions by Ariel Cohen and Ilan Twig and later adopted the Navan name as its platform expanded beyond travel booking into broader spend management.

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