Analysts expect that Telenav, Inc. (NASDAQ:TNAV) will post $36.84 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Telenav’s earnings, with the highest sales estimate coming in at $36.90 million and the lowest estimate coming in at $36.80 million. Telenav reported sales of $42.23 million during the same quarter last year, which would suggest a negative year over year growth rate of 12.8%. The business is scheduled to issue its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Telenav will report full year sales of $36.84 million for the current year, with estimates ranging from $153.20 million to $167.57 million. For the next year, analysts anticipate that the business will report sales of $286.44 million per share, with estimates ranging from $282.37 million to $290.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Telenav.
Telenav (NASDAQ:TNAV) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. Telenav had a negative net margin of 27.87% and a negative return on equity of 32.05%. The firm had revenue of $40.29 million for the quarter, compared to the consensus estimate of $39.87 million. During the same quarter in the previous year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was down 15.6% on a year-over-year basis.
A number of analysts have recently weighed in on TNAV shares. BidaskClub upgraded shares of Telenav from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of Telenav from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Northland Securities set a $15.00 price objective on shares of Telenav and gave the stock a “buy” rating in a research note on Monday, July 10th. ValuEngine cut shares of Telenav from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, B. Riley restated a “buy” rating and issued a $11.00 price objective on shares of Telenav in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.75.
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Shares of Telenav (NASDAQ:TNAV) opened at 6.65 on Thursday. The stock’s market cap is $292.24 million. Telenav has a 1-year low of $4.80 and a 1-year high of $10.15. The company’s 50-day moving average is $6.45 and its 200 day moving average is $7.68.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Telenav by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 1,200,607 shares of the technology company’s stock valued at $10,385,000 after purchasing an additional 156,248 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Telenav by 17.8% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 24,462 shares of the technology company’s stock valued at $212,000 after purchasing an additional 3,691 shares during the last quarter. Geode Capital Management LLC raised its stake in Telenav by 22.1% during the 1st quarter. Geode Capital Management LLC now owns 255,625 shares of the technology company’s stock valued at $2,211,000 after purchasing an additional 46,266 shares during the last quarter. Teachers Advisors LLC raised its stake in Telenav by 37.9% during the 4th quarter. Teachers Advisors LLC now owns 74,290 shares of the technology company’s stock valued at $524,000 after purchasing an additional 20,419 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Telenav by 17.2% during the 1st quarter. Bank of New York Mellon Corp now owns 144,586 shares of the technology company’s stock valued at $1,251,000 after purchasing an additional 21,246 shares during the last quarter. Hedge funds and other institutional investors own 53.92% 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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