Telenav (NASDAQ:TNAV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm presently has a $5.25 price target on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 18.78% from the company’s previous close.

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. “

Other analysts have also recently issued research reports about the stock. B. Riley reissued a “buy” rating on shares of Telenav in a research report on Monday, July 23rd. BidaskClub raised shares of Telenav from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Telenav currently has a consensus rating of “Buy” and an average target price of $7.92.

Shares of TNAV opened at $4.42 on Friday. The stock has a market cap of $200.05 million, a PE ratio of -2.27 and a beta of 0.79. Telenav has a 1 year low of $4.08 and a 1 year high of $6.60.

Telenav (NASDAQ:TNAV) last issued its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.14. The business had revenue of $52.17 million for the quarter, compared to analysts’ expectations of $51.74 million. Telenav had a negative net margin of 66.53% and a negative return on equity of 115.32%. Research analysts expect that Telenav will post -0.68 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Telenav by 4.5% during the second quarter. BlackRock Inc. now owns 1,665,808 shares of the technology company’s stock worth $9,328,000 after purchasing an additional 71,558 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Telenav by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,285,015 shares of the technology company’s stock worth $6,939,000 after purchasing an additional 17,675 shares in the last quarter. Divisar Capital Management LLC lifted its position in shares of Telenav by 2.0% during the second quarter. Divisar Capital Management LLC now owns 3,909,155 shares of the technology company’s stock worth $21,891,000 after purchasing an additional 78,021 shares in the last quarter. Wasatch Advisors Inc. acquired a new stake in shares of Telenav during the third quarter worth about $2,706,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Telenav during the second quarter worth approximately $415,000. 51.78% of the stock is currently owned by institutional investors and hedge funds.

About Telenav

Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.

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