Analysts Anticipate Telenav Inc (NASDAQ:TNAV) Will Announce Quarterly Sales of $58.20 Million

Equities analysts forecast that Telenav Inc (NASDAQ:TNAV) will post $58.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Telenav’s earnings, with estimates ranging from $58.10 million to $58.29 million. Telenav posted sales of $64.46 million during the same quarter last year, which would indicate a negative year over year growth rate of 9.7%. The company is expected to report its next quarterly earnings report on Thursday, November 5th.

According to Zacks, analysts expect that Telenav will report full year sales of $242.14 million for the current year, with estimates ranging from $239.80 million to $244.47 million. For the next fiscal year, analysts anticipate that the business will post sales of $249.46 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Telenav.

Telenav (NASDAQ:TNAV) last announced its earnings results on Wednesday, August 12th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $35.35 million for the quarter, compared to analysts’ expectations of $48.65 million. Telenav had a negative net margin of 4.16% and a negative return on equity of 5.57%.

Several research analysts have recently commented on TNAV shares. Zacks Investment Research downgraded Telenav from a “hold” rating to a “sell” rating in a report on Friday, August 14th. B. Riley raised Telenav from a “neutral” rating to a “buy” rating and raised their price target for the stock from $5.00 to $8.00 in a report on Thursday, August 13th. Northland Securities started coverage on Telenav in a report on Thursday, August 13th. They issued a “hold” rating on the stock. TheStreet raised Telenav from a “d+” rating to a “c-” rating in a report on Friday, August 14th. Finally, ValuEngine downgraded Telenav from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Telenav has a consensus rating of “Hold” and an average price target of $6.63.

In other news, major shareholder Nokomis Capital, L.L.C. sold 300,000 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.43, for a total value of $1,629,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Hassan Wahla sold 20,000 shares of Telenav stock in a transaction on Thursday, July 16th. The stock was sold at an average price of $9.00, for a total value of $180,000.00. The disclosure for this sale can be found here. 21.32% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its holdings in shares of Telenav by 63.9% during the first quarter. Acadian Asset Management LLC now owns 966,280 shares of the technology company’s stock valued at $4,177,000 after buying an additional 376,694 shares in the last quarter. Mackay Shields LLC purchased a new position in shares of Telenav during the first quarter valued at $1,194,000. AQR Capital Management LLC grew its holdings in shares of Telenav by 426.3% during the second quarter. AQR Capital Management LLC now owns 325,773 shares of the technology company’s stock valued at $1,788,000 after buying an additional 263,871 shares in the last quarter. State Street Corp grew its holdings in shares of Telenav by 21.0% during the first quarter. State Street Corp now owns 982,467 shares of the technology company’s stock valued at $4,244,000 after buying an additional 170,616 shares in the last quarter. Finally, Tenzing Global Management LLC purchased a new position in shares of Telenav during the first quarter valued at $718,000. Institutional investors and hedge funds own 52.82% of the company’s stock.

Shares of TNAV traded down $0.12 during mid-day trading on Tuesday, hitting $3.61. The stock had a trading volume of 129,622 shares, compared to its average volume of 313,437. The company has a market cap of $169.96 million, a PE ratio of -16.41 and a beta of 0.18. The company’s fifty day simple moving average is $4.54 and its two-hundred day simple moving average is $4.89. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.05. Telenav has a fifty-two week low of $3.45 and a fifty-two week high of $6.50.

About Telenav

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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