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.
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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.
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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