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

Navan, Inc. (NASDAQ:NAVN)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $30.09 and last traded at $30.38, with a volume of 433567 shares trading hands. The stock had previously closed at $29.33.

Wall Street Analyst Weigh In

Several research analysts have commented on NAVN shares. Rosenblatt Securities boosted their price target on shares of Navan from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 8th. BNP Paribas Exane raised their price objective on shares of Navan from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Needham & Company LLC restated a “buy” rating and issued a $30.00 price objective on shares of Navan in a report on Monday, June 22nd. BTIG Research lifted their price objective on shares of Navan from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Finally, Citizens Jmp boosted their target price on shares of Navan from $31.00 to $38.00 and gave the stock a “market outperform” 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Navan currently has an average rating of “Moderate Buy” and an average target price of $29.79.

Navan Price Performance

The stock’s 50-day moving average is $26.16 and its 200 day moving average is $18.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.31 and a current ratio of 4.31. The stock has a market capitalization of $7.62 billion and a PE ratio of -13.95.

Navan (NASDAQ:NAVN) last announced its quarterly earnings results on Wednesday, June 10th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.20. The company had revenue of $220.23 million during the quarter. Navan’s revenue was up 39.8% compared to the same quarter last year. As a group, equities analysts expect that Navan, Inc. will post -0.37 earnings per share for the current year.

Insider Buying and Selling at Navan

In related news, CTO Ilan Ezra Twig sold 24,726 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $520,729.56. Following the completion of the sale, the chief technology officer directly owned 805,860 shares of the company’s stock, valued at $16,971,411.60. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Michael Eric Sindicich sold 2,176 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $21.06, for a total value of $45,826.56. Following the transaction, the president owned 548,318 shares in the company, valued at $11,547,577.08. This represents a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 5,087,984 shares of company stock valued at $101,833,806. 63.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Navan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new position in shares of Navan during the fourth quarter worth approximately $35,000. California State Teachers Retirement System acquired a new position in shares of Navan in the 4th quarter valued at $39,000. Russell Investments Group Ltd. purchased a new stake in Navan in the 4th quarter valued at $51,000. Orion Capital Management LLC acquired a new stake in Navan during the 2nd quarter worth $54,000. Finally, Sunbelt Securities Inc. acquired a new stake in Navan during the 1st quarter worth $71,000.

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.