Telenav (TNAV) Lifted to “Buy” at BidaskClub

BidaskClub upgraded shares of Telenav (NASDAQ:TNAV) from a hold rating to a buy rating in a research report released on Friday, BidAskClub reports.

TNAV has been the subject of several other research reports. Zacks Investment Research lowered shares of Telenav from a strong-buy rating to a hold rating in a research report on Thursday, January 10th. ValuEngine upgraded shares of Telenav from a buy rating to a strong-buy rating in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $8.38.

TNAV stock opened at $6.92 on Friday. Telenav has a 52 week low of $3.35 and a 52 week high of $7.13. The firm has a market cap of $313.77 million, a price-to-earnings ratio of -3.55 and a beta of 0.97.

Telenav (NASDAQ:TNAV) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. Telenav had a negative net margin of 26.03% and a negative return on equity of 60.09%. The business had revenue of $53.07 million during the quarter, compared to analyst estimates of $51.02 million. On average, equities research analysts forecast that Telenav will post -0.62 EPS for the current fiscal year.

In other Telenav news, Director Nokomis Capital, L.L.C. acquired 69,193 shares of the stock in a transaction on Thursday, February 14th. The stock was acquired at an average price of $5.20 per share, for a total transaction of $359,803.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 257,251 shares of company stock valued at $1,453,157 in the last quarter. 24.82% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in TNAV. BlackRock Inc. lifted its holdings in shares of Telenav by 1.3% in the 3rd quarter. BlackRock Inc. now owns 1,688,150 shares of the technology company’s stock worth $8,526,000 after acquiring an additional 22,342 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Telenav by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,696,267 shares of the technology company’s stock worth $8,566,000 after acquiring an additional 144,495 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Telenav by 9.3% in the 3rd quarter. Vanguard Group Inc now owns 1,696,267 shares of the technology company’s stock worth $8,566,000 after acquiring an additional 144,495 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Telenav by 47.7% in the 4th quarter. Rhumbline Advisers now owns 41,745 shares of the technology company’s stock worth $169,000 after acquiring an additional 13,477 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Telenav by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,187,880 shares of the technology company’s stock worth $4,823,000 after acquiring an additional 20,195 shares during the last quarter. Hedge funds and other institutional investors own 49.06% 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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