Telenav Inc. (NASDAQ:TNAV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage presently has a $6.50 price target on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.49% from the stock’s current price.

According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “

Separately, B. Riley reissued a “buy” rating and issued a $10.00 price target on shares of Telenav in a research note on Saturday, August 6th.

Telenav (NASDAQ:TNAV) opened at 5.83 on Tuesday. The stock’s market capitalization is $248.98 million. The firm has a 50-day moving average of $5.61 and a 200 day moving average of $5.36. Telenav has a 52 week low of $4.47 and a 52 week high of $7.75.

Telenav (NASDAQ:TNAV) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. Telenav had a negative return on equity of 22.62% and a negative net margin of 19.26%. The firm had revenue of $47.80 million for the quarter, compared to analyst estimates of $41.69 million. During the same period last year, the company earned ($0.12) EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts anticipate that Telenav will post ($0.58) EPS for the current year.

In other news, General Counsel Loren E. Hillberg sold 6,242 shares of Telenav stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $5.93, for a total value of $37,015.06. Following the transaction, the general counsel now directly owns 2,132 shares of the company’s stock, valued at approximately $12,642.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H.P. Jin acquired 7,500 shares of Telenav stock in a transaction dated Monday, August 8th. The stock was purchased at an average cost of $5.35 per share, for a total transaction of $40,125.00. Following the completion of the purchase, the chief executive officer now directly owns 1,364,769 shares in the company, valued at $7,301,514.15. The disclosure for this purchase can be found here. 27.85% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. raised its position in Telenav by 14.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,810 shares of the company’s stock valued at $211,000 after buying an additional 4,600 shares during the period. Prudential Financial Inc. bought a new position in Telenav during the first quarter valued at approximately $349,000. Spark Investment Management LLC raised its position in Telenav by 8.5% in the first quarter. Spark Investment Management LLC now owns 63,900 shares of the company’s stock valued at $377,000 after buying an additional 4,984 shares during the period. Geode Capital Management LLC raised its position in Telenav by 9.0% in the first quarter. Geode Capital Management LLC now owns 194,559 shares of the company’s stock valued at $1,147,000 after buying an additional 16,074 shares during the period. Finally, Renaissance Technologies LLC raised its position in Telenav by 8.0% in the first quarter. Renaissance Technologies LLC now owns 346,300 shares of the company’s stock valued at $2,043,000 after buying an additional 25,701 shares during the period. 47.29% of the stock is currently owned by institutional investors and hedge funds.

Telenav Company Profile

TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.

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