Telenav Inc (TNAV) Expected to Announce Quarterly Sales of $13.52 Million

Equities research analysts expect Telenav Inc (NASDAQ:TNAV) to post $13.52 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Telenav’s earnings. The highest sales estimate is $13.60 million and the lowest is $13.45 million. Telenav posted sales of $35.07 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 61.4%. The company is expected to report its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Telenav will report full-year sales of $13.52 million for the current financial year, with estimates ranging from $103.26 million to $103.40 million. For the next financial year, analysts anticipate that the company will post sales of $227.18 million per share, with estimates ranging from $185.00 million to $269.37 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Telenav.

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Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.35) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.02. The firm had revenue of $39.10 million for the quarter, compared to the consensus estimate of $39.03 million. Telenav had a negative net margin of 38.56% and a negative return on equity of 56.00%. The firm’s revenue was down 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.26) earnings per share.

Several analysts have commented on the stock. Zacks Investment Research raised shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. ValuEngine downgraded shares of Telenav from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Craig Hallum set a $9.00 target price on shares of Telenav and gave the stock a “buy” rating in a research report on Thursday, December 21st. Finally, B. Riley reissued a “buy” rating and issued a $9.50 target price on shares of Telenav in a research report on Monday, January 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $10.88.

TNAV stock opened at $5.10 on Friday. The company has a market capitalization of $233.90, a price-to-earnings ratio of -4.68 and a beta of 0.94. Telenav has a 12 month low of $4.50 and a 12 month high of $9.25.

In other news, CEO H.P. Jin acquired 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average cost of $5.66 per share, with a total value of $113,200.00. Following the acquisition, the chief executive officer now owns 1,399,854 shares in the company, valued at $7,923,173.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 24.67% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Divisar Capital Management LLC boosted its holdings in shares of Telenav by 5.0% during the 4th quarter. Divisar Capital Management LLC now owns 3,728,204 shares of the technology company’s stock worth $20,505,000 after buying an additional 178,013 shares during the period. Ariel Investments LLC boosted its holdings in shares of Telenav by 21.2% during the 4th quarter. Ariel Investments LLC now owns 3,609,773 shares of the technology company’s stock worth $19,854,000 after buying an additional 632,037 shares during the period. BlackRock Inc. boosted its holdings in shares of Telenav by 0.7% during the 4th quarter. BlackRock Inc. now owns 1,626,681 shares of the technology company’s stock worth $8,947,000 after buying an additional 10,831 shares during the period. B. Riley Financial Inc. boosted its holdings in shares of Telenav by 8.5% during the 4th quarter. B. Riley Financial Inc. now owns 943,716 shares of the technology company’s stock worth $5,190,000 after buying an additional 74,056 shares during the period. Finally, State Street Corp raised its stake in Telenav by 9.5% during the 2nd quarter. State Street Corp now owns 527,424 shares of the technology company’s stock valued at $4,273,000 after purchasing an additional 45,895 shares during the last quarter. 52.42% of the stock is owned by institutional investors and hedge funds.

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About Telenav

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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Earnings History and Estimates for Telenav (NASDAQ:TNAV)

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