Trade Report: The FBR & Co Reiterates “$15.00” Price Target for Telenav Inc. (TNAV)

The FBR & Co Reiterates “$15.00” Price Target for Telenav Inc. (TNAV)

Telenav Inc. (NASDAQ:TNAV) has been given a $15.00 price target by research analysts at FBR & Co in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the stock. FBR & Co’s price objective suggests a potential upside of 143.90% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Telenav from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Tuesday, October 4th. B. Riley started coverage on shares of Telenav in a report on Thursday, August 25th. They issued a “buy” rating and a $15.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Telenav currently has a consensus rating of “Hold” and an average price target of $10.50.

Telenav (NASDAQ:TNAV) remained flat at $6.15 during midday trading on Wednesday. The company had a trading volume of 24,580 shares. The stock’s market cap is $265.30 million. Telenav has a 52 week low of $4.47 and a 52 week high of $7.17. The stock’s 50-day moving average is $5.69 and its 200 day moving average is $5.38.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.05. The company earned $42.23 million during the quarter, compared to the consensus estimate of $42.05 million. Telenav had a negative net margin of 18.63% and a negative return on equity of 22.85%. The business’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. On average, equities research analysts predict that Telenav will post ($0.62) earnings per share for the current year.

In other Telenav news, CFO Michael Strambi sold 8,500 shares of Telenav stock in a transaction on Monday, September 12th. The shares were sold at an average price of $5.45, for a total value of $46,325.00. Following the completion of the transaction, the chief financial officer now directly owns 35,305 shares of the company’s stock, valued at approximately $192,412.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nokomis Capital, L.L.C. acquired 58,332 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was acquired at an average cost of $5.18 per share, with a total value of $302,159.76. The disclosure for this purchase can be found here. 24.60% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Penn Capital Management Co. Inc. boosted its position in shares of Telenav by 123.4% in the third quarter. Penn Capital Management Co. Inc. now owns 769,678 shares of the company’s stock worth $4,410,000 after buying an additional 425,173 shares during the last quarter. Keane Capital Partners LLC purchased a new position in Telenav during the first quarter worth approximately $1,319,000. Granite Point Capital Management L.P. purchased a new position in Telenav during the second quarter worth approximately $639,000. BlackRock Fund Advisors boosted its position in Telenav by 16.7% in the second quarter. BlackRock Fund Advisors now owns 842,790 shares of the company’s stock worth $4,298,000 after buying an additional 120,432 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Telenav during the second quarter worth approximately $376,000. 46.42% of the stock is owned by institutional investors and hedge funds.

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