Equities research analysts expect Telenav, Inc. (NASDAQ:TNAV) to report $39.80 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Telenav’s earnings. The lowest sales estimate is $39.65 million and the highest is $40.04 million. Telenav posted sales of $47.75 million during the same quarter last year, which suggests a negative year-over-year growth rate of 16.6%. The business is scheduled to issue its next earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that Telenav will report full-year sales of $39.80 million for the current financial year, with estimates ranging from $168.94 million to $169.33 million. For the next year, analysts expect that the company will report sales of $225.78 million per share, with estimates ranging from $212.80 million to $240.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Telenav.
A number of analysts recently issued reports on TNAV shares. Zacks Investment Research cut Telenav from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. ValuEngine raised Telenav from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Sidoti raised Telenav from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, May 19th. Finally, B. Riley reissued a “buy” rating and set a $11.00 price objective on shares of Telenav in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.25.
Shares of Telenav (TNAV) traded up 0.59% during midday trading on Friday, reaching $8.55. The company’s stock had a trading volume of 64,287 shares. Telenav has a 52 week low of $4.64 and a 52 week high of $10.15. The stock has a 50-day moving average price of $8.51 and a 200 day moving average price of $8.14. The stock’s market capitalization is $373.93 million.
In other Telenav news, VP Evan Berg sold 5,329 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $8.80, for a total value of $46,895.20. Following the completion of the sale, the vice president now owns 21,766 shares of the company’s stock, valued at $191,540.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Strambi sold 10,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $8.70, for a total value of $87,000.00. Following the completion of the sale, the chief financial officer now directly owns 41,578 shares of the company’s stock, valued at approximately $361,728.60. The disclosure for this sale can be found here. 24.60% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Divisar Capital Management LLC bought a new stake in shares of Telenav during the fourth quarter worth $12,189,000. Nokomis Capital L.L.C. boosted its stake in shares of Telenav by 12.1% in the fourth quarter. Nokomis Capital L.L.C. now owns 4,495,750 shares of the technology company’s stock worth $31,695,000 after buying an additional 487,014 shares in the last quarter. Cortina Asset Management LLC bought a new stake in shares of Telenav during the first quarter worth $4,072,000. Driehaus Capital Management LLC bought a new stake in shares of Telenav during the first quarter worth $3,649,000. Finally, Lyon Street Capital LLC boosted its stake in shares of Telenav by 99.3% in the first quarter. Lyon Street Capital LLC now owns 519,619 shares of the technology company’s stock worth $4,495,000 after buying an additional 258,843 shares in the last quarter. 51.73% of the stock is owned by institutional investors.
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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