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.
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.
COPYRIGHT VIOLATION WARNING: This news story was first reported by WKRB News and is owned by of WKRB News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://www.wkrb13.com/2019/05/11/telenav-tnav-announces-earnings-results.html.
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.
Recommended Story: What is a Special Dividend?
Receive News & Ratings for Telenav Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Telenav and related companies with MarketBeat.com's FREE daily email newsletter.