Telenav Inc (TNAV) Expected to Announce Quarterly Sales of $52.71 Million

Analysts predict that Telenav Inc (NASDAQ:TNAV) will announce $52.71 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Telenav’s earnings. The highest sales estimate is $53.52 million and the lowest is $51.90 million. Telenav posted sales of $39.08 million in the same quarter last year, which would indicate a positive year over year growth rate of 34.9%. The firm is scheduled to announce its next earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Telenav will report full year sales of $217.81 million for the current fiscal year, with estimates ranging from $217.00 million to $218.61 million. For the next financial year, analysts expect that the firm will report sales of $260.86 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Telenav.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.14. Telenav had a negative return on equity of 115.32% and a negative net margin of 66.53%. The firm had revenue of $52.17 million during the quarter, compared to the consensus estimate of $51.74 million.

A number of brokerages recently commented on TNAV. Zacks Investment Research upgraded Telenav from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a report on Tuesday, August 14th. BidaskClub upgraded Telenav from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Telenav presently has an average rating of “Buy” and a consensus price target of $7.92.

Shares of Telenav stock traded down $0.23 during midday trading on Thursday, reaching $3.75. 59,404 shares of the company’s stock traded hands, compared to its average volume of 70,464. The company has a market cap of $189.19 million, a PE ratio of -1.92 and a beta of 0.80. Telenav has a 12 month low of $3.72 and a 12 month high of $6.60.

In other Telenav news, SVP Philipp Wolfgang Josef Kandal bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was bought at an average price of $4.19 per share, for a total transaction of $41,900.00. Following the completion of the acquisition, the senior vice president now directly owns 216,335 shares in the company, valued at $906,443.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 60,551 shares of company stock valued at $260,885. 24.82% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Telenav by 4.5% in the second quarter. BlackRock Inc. now owns 1,665,808 shares of the technology company’s stock worth $9,328,000 after purchasing an additional 71,558 shares in the last quarter. Northern Trust Corp raised its holdings in Telenav by 5.7% in the second quarter. Northern Trust Corp now owns 349,901 shares of the technology company’s stock worth $1,960,000 after purchasing an additional 18,858 shares in the last quarter. Divisar Capital Management LLC raised its holdings in Telenav by 2.0% in the second quarter. Divisar Capital Management LLC now owns 3,909,155 shares of the technology company’s stock worth $21,891,000 after purchasing an additional 78,021 shares in the last quarter. Wasatch Advisors Inc. bought a new position in Telenav in the third quarter worth $2,706,000. Finally, ARS Investment Partners LLC raised its holdings in Telenav by 11.0% in the third quarter. ARS Investment Partners LLC now owns 201,846 shares of the technology company’s stock worth $1,019,000 after purchasing an additional 19,951 shares in the last quarter. Institutional investors and hedge funds own 51.70% of the company’s stock.

About Telenav

Telenav, Inc, together with its subsidiaries provides connected car and location-based platform services in the United States and internationally. The company operates through three segments: Automotive, Advertising, and Mobile Navigation. It offers automotive navigation services, including on-board solutions, which consist of software, map, and points of interest data loaded in vehicles that provide voice-guided turn by turn navigation displayed on the vehicle screen; and brought-in navigation services.

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Earnings History and Estimates for Telenav (NASDAQ:TNAV)

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