Telenav, Inc. (NASDAQ:TNAV) Receives Consensus Rating of “Hold” from Brokerages

Shares of Telenav, Inc. (NASDAQ:TNAV) have earned an average rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.75.

TNAV has been the topic of several recent analyst reports. B. Riley reissued a “buy” rating and set a $11.00 target price on shares of Telenav in a research note on Saturday. Sidoti raised shares of Telenav from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Friday, May 19th. Northland Securities set a $15.00 target price on shares of Telenav and gave the company a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research raised shares of Telenav from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, ValuEngine raised shares of Telenav from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd.

COPYRIGHT VIOLATION NOTICE: “Telenav, Inc. (NASDAQ:TNAV) Receives Consensus Rating of “Hold” from Brokerages” was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://sportsperspectives.com/2017/08/10/telenav-inc-nasdaqtnav-receives-average-recommendation-of-buy-from-brokerages-updated-updated-updated.html.

Telenav (TNAV) opened at 6.40 on Monday. Telenav has a 12 month low of $4.80 and a 12 month high of $10.15. The company’s 50-day moving average price is $8.03 and its 200 day moving average price is $8.43. The stock’s market capitalization is $279.90 million.

Telenav (NASDAQ:TNAV) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.02. Telenav had a negative net margin of 27.87% and a negative return on equity of 30.87%. The company had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.87 million. During the same period in the previous year, the business earned ($0.19) EPS. The company’s revenue was down 15.6% on a year-over-year basis. On average, analysts forecast that Telenav will post ($0.72) earnings per share for the current fiscal year.

In other 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 directly owns 37,613 shares in the company, valued at approximately $312,564.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 24.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Telenav during the fourth quarter worth about $901,000. State Street Corp boosted its stake in shares of Telenav by 9.1% in the fourth quarter. State Street Corp now owns 438,196 shares of the technology company’s stock worth $3,089,000 after buying an additional 36,420 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Telenav by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,292,912 shares of the technology company’s stock worth $9,115,000 after buying an additional 25,948 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Telenav by 11.4% in the fourth quarter. Renaissance Technologies LLC now owns 502,700 shares of the technology company’s stock worth $3,544,000 after buying an additional 51,300 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Telenav during the fourth quarter worth about $249,000. Institutional investors and hedge funds own 51.58% of the company’s stock.

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.

Receive News & Ratings for Telenav Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telenav Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply