Telenav, Inc. (NASDAQ:TNAV) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.
A number of other brokerages also recently issued reports on TNAV. B. Riley restated a “buy” rating and issued a $11.00 price target on shares of Telenav in a research report on Saturday, August 5th. ValuEngine upgraded shares of Telenav from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Northland Securities set a $15.00 price target on shares of Telenav and gave the stock a “buy” rating in a research report on Monday, July 10th. Zacks Investment Research downgraded shares of Telenav from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Finally, Sidoti upgraded shares of Telenav from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, May 19th. Two equities research 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. Telenav currently has a consensus rating of “Hold” and a consensus price target of $12.00.
Telenav (NASDAQ:TNAV) traded up 3.17% during trading on Friday, reaching $6.50. 52,133 shares of the company’s stock traded hands. Telenav has a 12 month low of $4.80 and a 12 month high of $10.15. The firm’s 50 day moving average is $7.22 and its 200 day moving average is $8.14. The company’s market cap is $285.64 million.
Telenav (NASDAQ:TNAV) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.02. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.87 million. Telenav had a negative net margin of 27.87% and a negative return on equity of 30.87%. The company’s revenue for the quarter was down 15.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) EPS. Analysts anticipate that Telenav will post ($1.08) EPS for the current year.
In related news, CFO Michael Strambi sold 5,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $8.31, for a total transaction of $41,550.00. Following the transaction, the chief financial officer now owns 37,613 shares in the company, valued at approximately $312,564.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 24.60% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. increased its position in Telenav by 4.9% in the first quarter. Thompson Davis & CO. Inc. now owns 14,950 shares of the technology company’s stock worth $129,000 after buying an additional 700 shares during the last quarter. American International Group Inc. increased its position in Telenav by 7.1% in the first quarter. American International Group Inc. now owns 20,066 shares of the technology company’s stock worth $174,000 after buying an additional 1,328 shares during the last quarter. Prudential Financial Inc. increased its position in Telenav by 2.8% in the second quarter. Prudential Financial Inc. now owns 54,135 shares of the technology company’s stock worth $438,000 after buying an additional 1,500 shares during the last quarter. Susquehanna International Group LLP increased its position in Telenav by 21.0% in the second quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock worth $167,000 after buying an additional 3,595 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Telenav by 17.0% in the second quarter. Wells Fargo & Company MN now owns 25,063 shares of the technology company’s stock worth $202,000 after buying an additional 3,633 shares during the last quarter. Institutional investors own 51.40% of the company’s stock.
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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