Telenav (NASDAQ:TNAV) Upgraded to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Telenav (NASDAQ:TNAV) from a buy rating to a strong-buy rating in a report released on Tuesday, May 7th, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Telenav from a strong-buy rating to a buy rating in a report on Saturday, March 30th. Zacks Investment Research upgraded shares of Telenav from a hold rating to a buy rating and set a $5.00 price objective on the stock in a report on Tuesday, January 29th. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $8.38.

Shares of TNAV traded up $0.07 during midday trading on Tuesday, reaching $7.49. The stock had a trading volume of 351,838 shares, compared to its average volume of 208,304. Telenav has a 1-year low of $3.35 and a 1-year high of $7.92. The firm has a market capitalization of $344.60 million, a price-to-earnings ratio of -3.84 and a beta of 0.97.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.02. Telenav had a negative net margin of 26.03% and a negative return on equity of 57.09%. The business had revenue of $53.07 million for the quarter, compared to analyst estimates of $51.02 million. Equities research analysts expect that Telenav will post -0.63 EPS for the current year.

In related news, Director Nokomis Capital, L.L.C. purchased 37,658 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $6.09 per share, for a total transaction of $229,337.22. The purchase was disclosed in a document filed with the SEC, which is available through this link. 24.82% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc raised its stake in Telenav by 9.3% during 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 in the last quarter. BlackRock Inc. grew its position in Telenav by 3.2% during the 4th quarter. BlackRock Inc. now owns 1,742,870 shares of the technology company’s stock worth $7,076,000 after purchasing an additional 54,720 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Telenav by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,187,880 shares of the technology company’s stock worth $4,823,000 after purchasing an additional 20,195 shares during the last quarter. Virtu Financial LLC purchased a new position in Telenav during the 1st quarter worth $155,000. Finally, Rhumbline Advisers grew its position in Telenav by 47.7% during the 4th quarter. Rhumbline Advisers now owns 41,745 shares of the technology company’s stock worth $169,000 after purchasing an additional 13,477 shares during the last quarter. Hedge funds and other institutional investors own 49.95% of the company’s stock.

Telenav Company Profile

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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