Analysts Expect Telenav Inc (NASDAQ:TNAV) Will Post Quarterly Sales of $62.58 Million

Brokerages expect Telenav Inc (NASDAQ:TNAV) to post $62.58 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Telenav’s earnings. The highest sales estimate is $62.95 million and the lowest is $62.20 million. Telenav posted sales of $52.17 million in the same quarter last year, which suggests a positive year over year growth rate of 20%. The firm is scheduled to report its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Telenav will report full year sales of $244.58 million for the current year, with estimates ranging from $243.46 million to $245.70 million. For the next year, analysts anticipate that the business will report sales of $272.23 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Telenav.

Several equities analysts have recently weighed in on TNAV shares. ValuEngine downgraded Telenav from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub downgraded Telenav from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th. Northland Securities reiterated a “buy” rating and issued a $11.00 price objective on shares of Telenav in a report on Friday, May 10th. B. Riley reiterated a “buy” rating on shares of Telenav in a report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Telenav from a “sell” rating to a “hold” rating in a report on Wednesday, June 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.38.

In other news, insider Hassan Wahla sold 49,999 shares of Telenav stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $7.40, for a total transaction of $369,992.60. Following the transaction, the insider now directly owns 181,164 shares of the company’s stock, valued at approximately $1,340,613.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Salman Dhanani sold 100,000 shares of Telenav stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $7.18, for a total value of $718,000.00. Following the transaction, the insider now directly owns 481,683 shares in the company, valued at $3,458,483.94. The disclosure for this sale can be found here. Insiders sold 332,180 shares of company stock worth $2,552,775 over the last three months. Insiders own 24.82% of the company’s stock.

Several hedge funds have recently bought and sold shares of TNAV. BlackRock Inc. lifted its holdings in Telenav by 62.4% in the 2nd quarter. BlackRock Inc. now owns 2,779,478 shares of the technology company’s stock worth $22,238,000 after purchasing an additional 1,068,251 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Telenav by 68.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,004,869 shares of the technology company’s stock worth $8,039,000 after purchasing an additional 409,200 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Telenav by 332.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 310,476 shares of the technology company’s stock worth $2,484,000 after purchasing an additional 238,667 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in Telenav by 68.0% in the 2nd quarter. Wasatch Advisors Inc. now owns 578,138 shares of the technology company’s stock worth $4,625,000 after purchasing an additional 233,945 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Telenav by 1,392.2% in the 2nd quarter. Acadian Asset Management LLC now owns 247,400 shares of the technology company’s stock worth $1,979,000 after purchasing an additional 230,820 shares in the last quarter. 49.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:TNAV traded up $0.26 on Friday, hitting $10.70. 608,251 shares of the company traded hands, compared to its average volume of 256,735. Telenav has a 52 week low of $3.35 and a 52 week high of $10.95. The business has a 50 day moving average price of $8.91. The company has a market capitalization of $488.34 million, a P/E ratio of -16.46 and a beta of 0.71.

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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