Navan (NASDAQ:NAVN) Reaches New 12-Month High – Time to Buy?

Navan, Inc. (NASDAQ:NAVN)’s share price hit a new 52-week high on Tuesday . The company traded as high as $26.35 and last traded at $26.30, with a volume of 3705145 shares traded. The stock had previously closed at $25.67.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NAVN shares. Jefferies Financial Group boosted their price objective on Navan from $18.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. The Goldman Sachs Group upgraded Navan from a “buy” rating to a “buy” rating in a report on Monday, June 8th. Citigroup reissued an “outperform” rating on shares of Navan in a research note on Thursday, June 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Navan in a research report on Monday, June 22nd. Finally, TD Cowen lifted their price objective on shares of Navan from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Navan presently has an average rating of “Moderate Buy” and an average price target of $28.64.

Navan Price Performance

The business has a 50-day moving average of $20.84 and a 200 day moving average of $15.62. 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 capitalization of $6.49 billion and a P/E ratio of -11.87.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.20. The firm had revenue of $220.23 million during the quarter. The business’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, sell-side analysts predict that Navan, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Transactions at Navan

In other Navan news, President Michael Eric Sindicich sold 51,169 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $20.20, for a total transaction of $1,033,613.80. Following the transaction, the president owned 549,251 shares in the company, valued at approximately $11,094,870.20. This represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arif Janmohamed sold 1,019,900 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $20.00, for a total transaction of $20,398,000.00. Following the completion of the transaction, the director directly owned 3,761,089 shares in the company, valued at $75,221,780. This trade represents a 21.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 5,130,170 shares of company stock valued at $102,639,611 in the last 90 days. 63.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Navan

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada acquired a new position in Navan during the 4th quarter valued at about $35,000. California State Teachers Retirement System bought a new position in shares of Navan in the fourth quarter valued at approximately $39,000. Russell Investments Group Ltd. bought a new position in shares of Navan in the fourth quarter valued at approximately $51,000. Sunbelt Securities Inc. purchased a new position in shares of Navan during the first quarter valued at approximately $71,000. Finally, New York State Common Retirement Fund bought a new stake in Navan during the fourth quarter worth $101,000.

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.