Telenav, Inc. (TNAV) Receives Average Recommendation of “Hold” from Brokerages

Shares of Telenav, Inc. (NASDAQ:TNAV) have earned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.75.

Several equities analysts have commented on TNAV shares. BidaskClub raised shares of Telenav from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research raised shares of Telenav from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Northland Securities set a $15.00 price objective on shares of Telenav and gave the stock a “buy” rating in a research note on Monday, July 10th. ValuEngine cut shares of Telenav from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, B. Riley reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Telenav in a research note on Thursday, August 10th.

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Several institutional investors and hedge funds have recently made changes to their positions in TNAV. Russell Investments Group Ltd. grew its stake in shares of Telenav by 6.3% in the 1st quarter. Russell Investments Group Ltd. now owns 133,985 shares of the technology company’s stock worth $1,160,000 after purchasing an additional 7,942 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Telenav by 17.2% in the 1st quarter. Bank of New York Mellon Corp now owns 144,586 shares of the technology company’s stock worth $1,251,000 after purchasing an additional 21,246 shares during the last quarter. American International Group Inc. grew its stake in shares of Telenav by 7.1% in the 1st quarter. American International Group Inc. now owns 20,066 shares of the technology company’s stock worth $174,000 after purchasing an additional 1,328 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Telenav by 8.3% in the 1st quarter. Teachers Advisors LLC now owns 80,438 shares of the technology company’s stock worth $696,000 after purchasing an additional 6,148 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Telenav by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 1,200,607 shares of the technology company’s stock worth $10,385,000 after purchasing an additional 156,248 shares during the last quarter. 53.48% of the stock is currently owned by institutional investors.

Shares of Telenav (NASDAQ:TNAV) traded up 2.40% on Wednesday, reaching $6.40. 42,980 shares of the company’s stock traded hands. The firm’s market capitalization is $281.25 million. Telenav has a 52 week low of $4.80 and a 52 week high of $10.15. The company has a 50 day moving average price of $6.47 and a 200 day moving average price of $7.65.

Telenav (NASDAQ:TNAV) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. The firm had revenue of $40.29 million for the quarter, compared to analysts’ expectations of $39.87 million. Telenav had a negative net margin of 27.87% and a negative return on equity of 32.05%. Telenav’s quarterly revenue was down 15.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.19) EPS. On average, equities research analysts predict that Telenav will post ($1.08) earnings per share for the current fiscal year.

Telenav Company Profile

TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.

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