B. Riley reaffirmed their buy rating on shares of Telenav (NASDAQ:TNAV) in a research report report published on Wednesday morning, Zacks.com reports.
Several other research firms also recently weighed in on TNAV. Northland Securities reiterated a buy rating and set a $11.00 target price on shares of Telenav in a research report on Friday, May 10th. BidaskClub upgraded Telenav from a buy rating to a strong-buy rating in a report on Friday, May 24th. Zacks Investment Research upgraded Telenav from a sell rating to a hold rating in a report on Wednesday, June 26th. Finally, ValuEngine upgraded Telenav from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $8.38.
Shares of NASDAQ:TNAV traded up $0.09 on Wednesday, hitting $9.23. 252,082 shares of the company’s stock were exchanged, compared to its average volume of 254,856. Telenav has a 12 month low of $3.35 and a 12 month high of $9.64. The company has a market capitalization of $430.41 million, a PE ratio of -4.73 and a beta of 0.70. The stock’s 50 day simple moving average is $8.46.
Telenav (NASDAQ:TNAV) last released its earnings results on Thursday, May 9th. The technology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. Telenav had a negative return on equity of 57.09% and a negative net margin of 26.03%. The business had revenue of $53.07 million during the quarter, compared to the consensus estimate of $51.02 million. On average, equities research analysts expect that Telenav will post -0.63 EPS for the current year.
In related news, insider Hassan Wahla sold 110,000 shares of Telenav stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $8.00, for a total value of $880,000.00. Following the completion of the sale, the insider now directly owns 153,179 shares in the company, valued at $1,225,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Philipp Wolfgang Josef Kandal sold 5,000 shares of Telenav stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $8.00, for a total value of $40,000.00. Following the completion of the sale, the senior vice president now owns 224,113 shares of the company’s stock, valued at $1,792,904. The disclosure for this sale can be found here. Insiders sold 332,180 shares of company stock valued at $2,552,775 over the last 90 days. 24.82% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TNAV. BlackRock Inc. grew its stake in Telenav by 3.2% in the fourth quarter. BlackRock Inc. now owns 1,742,870 shares of the technology company’s stock valued at $7,076,000 after purchasing an additional 54,720 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Telenav by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,187,880 shares of the technology company’s stock valued at $4,823,000 after purchasing an additional 20,195 shares during the last quarter. Geode Capital Management LLC grew its stake in Telenav by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 318,613 shares of the technology company’s stock valued at $1,293,000 after purchasing an additional 13,498 shares during the last quarter. Barclays PLC grew its stake in Telenav by 150.3% in the fourth quarter. Barclays PLC now owns 29,297 shares of the technology company’s stock valued at $119,000 after purchasing an additional 17,592 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Telenav in the first quarter valued at about $155,000. Institutional investors own 49.30% of the company’s stock.
Telenav Company Profile
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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