Telenav (TNAV) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Telenav (NASDAQ:TNAV) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “

TNAV has been the subject of several other research reports. B. Riley reaffirmed a buy rating and issued a $11.00 price target on shares of Telenav in a research report on Monday, October 30th. Craig Hallum set a $9.00 price target on Telenav and gave the stock a buy rating in a research report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $11.25.

Shares of Telenav (TNAV) traded up $0.10 during mid-day trading on Friday, hitting $5.60. 142,700 shares of the stock were exchanged, compared to its average volume of 97,100. Telenav has a 1 year low of $4.50 and a 1 year high of $10.15. The company has a market cap of $248.15, a PE ratio of -4.55 and a beta of 0.87.

Telenav (NASDAQ:TNAV) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.37) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.06). Telenav had a negative net margin of 32.94% and a negative return on equity of 41.16%. The business had revenue of $36.66 million for the quarter, compared to the consensus estimate of $36.84 million. During the same quarter last year, the firm posted ($0.22) EPS. The business’s quarterly revenue was down 13.2% on a year-over-year basis. sell-side analysts forecast that Telenav will post -1.4 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC purchased a new position in shares of Telenav in the 2nd quarter worth about $111,000. B. Riley Financial Inc. raised its position in Telenav by 131.7% in the 3rd quarter. B. Riley Financial Inc. now owns 869,660 shares of the technology company’s stock worth $5,522,000 after buying an additional 494,267 shares during the last quarter. Essex Investment Management Co. LLC raised its position in Telenav by 44.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 244,268 shares of the technology company’s stock worth $1,551,000 after buying an additional 75,088 shares during the last quarter. Vanguard Group Inc. raised its position in Telenav by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 1,282,162 shares of the technology company’s stock worth $10,386,000 after buying an additional 81,555 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Telenav in the 2nd quarter worth about $410,000. 53.75% of the stock is owned by hedge funds and other institutional investors.

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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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