Telenav (TNAV) Announces Earnings Results

Telenav (NASDAQ:TNAV) released its earnings results on Thursday. The technology company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.02, Morningstar.com reports. The firm had revenue of $53.07 million during the quarter, compared to analyst estimates of $51.02 million. Telenav had a negative net margin of 26.03% and a negative return on equity of 60.09%.

Shares of TNAV traded up $0.03 during trading hours on Friday, reaching $6.92. 629,303 shares of the company traded hands, compared to its average volume of 137,985. The firm has a market capitalization of $313.77 million, a P/E ratio of -3.55 and a beta of 0.97. Telenav has a 1-year low of $3.35 and a 1-year high of $7.13.

A number of brokerages have recently commented on TNAV. BidaskClub lowered shares of Telenav from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. ValuEngine raised shares of Telenav from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 20th. Zacks Investment Research raised shares of Telenav from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 29th. Finally, Northland Securities reaffirmed a “buy” rating and set a $11.00 price objective on shares of Telenav in a research report on Friday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.38.

In related news, Director Nokomis Capital, L.L.C. acquired 69,193 shares of the business’s stock in a transaction dated Thursday, February 14th. The stock was acquired at an average price of $5.20 per share, with a total value of $359,803.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 257,251 shares of company stock valued at $1,453,157 in the last ninety days. 24.82% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Optimum Investment Advisors bought a new stake in Telenav in the first quarter valued at about $30,000. BNP Paribas Arbitrage SA increased its stake in Telenav by 1,645.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,545 shares of the technology company’s stock valued at $40,000 after acquiring an additional 6,170 shares during the period. Parametric Portfolio Associates LLC bought a new stake in Telenav in the first quarter valued at about $74,000. Acadian Asset Management LLC bought a new stake in Telenav in the first quarter valued at about $100,000. Finally, Barclays PLC increased its stake in Telenav by 150.3% in the fourth quarter. Barclays PLC now owns 29,297 shares of the technology company’s stock valued at $119,000 after acquiring an additional 17,592 shares during the period. 49.06% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History for Telenav (NASDAQ:TNAV)

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