$53.27 Million in Sales Expected for Telenav Inc (TNAV) This Quarter

Wall Street brokerages expect Telenav Inc (NASDAQ:TNAV) to report sales of $53.27 million for the current quarter, Zacks reports. Two analysts have provided estimates for Telenav’s earnings, with estimates ranging from $53.04 million to $53.50 million. Telenav posted sales of $16.62 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 220.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 6th.

On average, analysts expect that Telenav will report full-year sales of $215.69 million for the current year, with estimates ranging from $215.49 million to $215.90 million. For the next financial year, analysts expect that the company will post sales of $234.41 million, with estimates ranging from $229.40 million to $239.42 million. Zacks’ sales averages are an average based on a survey of research firms that cover Telenav.

Telenav (NASDAQ:TNAV) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $53.07 million for the quarter, compared to the consensus estimate of $51.02 million. Telenav had a negative net margin of 26.03% and a negative return on equity of 57.09%.

A number of brokerages have issued reports on TNAV. ValuEngine downgraded shares of Telenav from a “strong-buy” rating to a “buy” rating in a report on Monday. Zacks Investment Research upgraded shares of Telenav from a “sell” rating to a “hold” rating in a report on Friday, May 24th. BidaskClub upgraded shares of Telenav from a “buy” rating to a “strong-buy” rating in a report on Friday, May 24th. Finally, Northland Securities restated a “buy” rating and issued a $11.00 target price on shares of Telenav in a report on Friday, May 10th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $8.38.

NASDAQ TNAV traded up $0.07 on Friday, reaching $7.53. The company had a trading volume of 286,389 shares, compared to its average volume of 210,812. The company has a market cap of $339.12 million, a P/E ratio of -3.86 and a beta of 0.72. Telenav has a 12 month low of $3.35 and a 12 month high of $7.92.

In other Telenav news, Director Nokomis Capital, L.L.C. bought 37,658 shares of Telenav stock in a transaction dated 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 24.82% of the company’s stock.

A number of large investors have recently modified their holdings of TNAV. JPMorgan Chase & Co. grew its holdings in Telenav by 303.1% during the 1st quarter. JPMorgan Chase & Co. now owns 600,686 shares of the technology company’s stock valued at $3,646,000 after purchasing an additional 451,683 shares during the last quarter. Nokomis Capital L.L.C. grew its holdings in Telenav by 6.6% during the 1st quarter. Nokomis Capital L.L.C. now owns 4,794,205 shares of the technology company’s stock valued at $29,101,000 after purchasing an additional 298,455 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Telenav by 54.0% during the 1st quarter. Renaissance Technologies LLC now owns 595,669 shares of the technology company’s stock valued at $3,616,000 after purchasing an additional 208,869 shares during the last quarter. Vanguard Group Inc grew its holdings in Telenav by 9.3% during the 3rd quarter. Vanguard Group Inc now owns 1,696,267 shares of the technology company’s stock valued at $8,566,000 after purchasing an additional 144,495 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Telenav by 9.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,696,267 shares of the technology company’s stock valued at $8,566,000 after purchasing an additional 144,495 shares during the last quarter. 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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