Research analysts at FBR & Co initiated coverage on shares of Telenav Inc. (NASDAQ:TNAV) in a note issued to investors on Monday. The firm set an “outperform” rating and a $15.00 price target on the stock. FBR & Co’s price target would indicate a potential upside of 156.41% from the stock’s previous close.
Several other equities analysts have also recently weighed in on TNAV. Zacks Investment Research upgraded Telenav from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Tuesday, October 4th. B. Riley started coverage on Telenav in a report on Thursday, August 25th. They set a “buy” rating and a $15.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Telenav currently has a consensus rating of “Hold” and an average price target of $12.17.
Telenav (NASDAQ:TNAV) opened at 5.85 on Monday. Telenav has a 52-week low of $4.47 and a 52-week high of $7.62. The stock’s 50 day moving average is $5.65 and its 200 day moving average is $5.36. The company’s market cap is $249.84 million.
Telenav (NASDAQ:TNAV) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.05. Telenav had a negative return on equity of 22.62% and a negative net margin of 19.26%. The firm had revenue of $47.80 million for the quarter, compared to analysts’ expectations of $41.69 million. During the same quarter last year, the business earned ($0.12) earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Telenav will post ($0.58) earnings per share for the current fiscal year.
In other news, CEO H.P. Jin bought 7,500 shares of the business’s stock in a transaction on Monday, August 8th. The shares were purchased at an average price of $5.35 per share, for a total transaction of $40,125.00. Following the purchase, the chief executive officer now owns 1,364,769 shares of the company’s stock, valued at approximately $7,301,514.15. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Loren E. Hillberg sold 6,242 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $5.93, for a total value of $37,015.06. Following the completion of the sale, the general counsel now owns 2,132 shares in the company, valued at approximately $12,642.76. The disclosure for this sale can be found here. Insiders own 24.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in Telenav by 18.9% in the second quarter. AQR Capital Management LLC now owns 51,230 shares of the company’s stock valued at $261,000 after buying an additional 8,153 shares during the last quarter. Penn Capital Management Co. Inc. purchased a new stake in Telenav during the second quarter valued at approximately $1,757,000. Teachers Advisors Inc. boosted its stake in Telenav by 13.1% in the second quarter. Teachers Advisors Inc. now owns 47,031 shares of the company’s stock valued at $240,000 after buying an additional 5,452 shares during the last quarter. AXA boosted its stake in Telenav by 5.4% in the second quarter. AXA now owns 149,344 shares of the company’s stock valued at $762,000 after buying an additional 7,644 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Telenav by 6.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 406,565 shares of the company’s stock valued at $2,073,000 after buying an additional 25,997 shares during the last quarter. Hedge funds and other institutional investors own 46.83% of the company’s stock.
Telenav Company Profile
TeleNav, Inc provides of location-based platform services consisting of map and navigation platform, and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers, auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications.
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.