B. Riley reaffirmed their buy rating on shares of Telenav, Inc. (NASDAQ:TNAV) in a research report sent to investors on Monday morning. B. Riley currently has a $11.00 target price on the technology company’s stock.
“We model Q1 revenue and EBITDA of $37MM and $(13MM), both at the midpoint of management’s guidance and in line with consensus. We also model billings (revenue plus the change in deferred revenue) of $62MM increasing a robust 31% y-o-y, which will support future revenue growth. Ford’s (F) NA production volume during the September quarter declined 5.4% due to some anticipated plant closures, but y-o-y production volume growth is expected to turn positive in Q4 for the first time since 1H CY ‘16.”,” the firm’s analyst commented.
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut Telenav from a sell rating to a strong sell rating in a research note on Thursday, August 3rd. ValuEngine cut Telenav from a hold rating to a sell rating in a research note on Monday, August 14th. Northland Securities set a $15.00 target price on Telenav and gave the stock a buy rating in a research note on Monday, July 10th. Finally, Zacks Investment Research raised Telenav from a sell rating to a hold rating in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $12.00.
Telenav (NASDAQ:TNAV) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.02. The company had revenue of $40.29 million during the quarter, compared to analysts’ expectations of $39.87 million. Telenav had a negative return on equity of 32.05% and a negative net margin of 27.87%. The business’s quarterly revenue was down 15.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. grew its stake in Telenav by 7.1% during the first quarter. American International Group Inc. now owns 20,066 shares of the technology company’s stock worth $174,000 after purchasing an additional 1,328 shares during the period. Prudential Financial Inc. grew its stake in Telenav by 2.8% during the second quarter. Prudential Financial Inc. now owns 54,135 shares of the technology company’s stock worth $438,000 after purchasing an additional 1,500 shares during the period. Susquehanna International Group LLP grew its stake in Telenav by 21.0% during the second quarter. Susquehanna International Group LLP now owns 20,676 shares of the technology company’s stock worth $167,000 after purchasing an additional 3,595 shares during the period. Wells Fargo & Company MN grew its stake in Telenav by 17.0% during the second quarter. Wells Fargo & Company MN now owns 25,063 shares of the technology company’s stock worth $202,000 after purchasing an additional 3,633 shares during the period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Telenav by 17.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 24,462 shares of the technology company’s stock worth $212,000 after acquiring an additional 3,691 shares in the last quarter. 52.59% of the stock is owned by institutional investors and hedge funds.
Telenav Company Profile
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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