Telenav (NASDAQ:TNAV) Raised to Hold at Zacks Investment Research

Telenav (NASDAQ:TNAV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, April 5th.

According to Zacks, “TeleNav, Inc. is a provider of location based services, or LBS, including voice guided navigation, on mobile phones. Its core LBS solution is GPS Navigator which offers features such as real time traffic alerts, route planning and updated POIs. The Company’s other products include TeleNav Track and TeleNav Shotgun. Through the Company’s hosted service delivery model, it provides its solutions through the networks of wireless carriers in the United States, including Sprint and AT&T, as well as through certain carriers in other countries. The Company is also using its LBS platform to develop new offerings such as a feature rich, in-dash navigation solution for automotive consumers. Additionally, TeleNav is broadening the scope of the LBS platform by developing solutions that support a broad range of location enhanced applications such as location based mobile advertising, commerce and social networking. TeleNav, Inc. is headquartered in Sunnyvale, California. “

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A number of other equities analysts also recently commented on the company. B. Riley restated a “buy” rating and issued a $9.50 target price on shares of Telenav in a research note on Monday, January 29th. Craig Hallum set a $9.00 target price on Telenav and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, ValuEngine downgraded Telenav from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.88.

NASDAQ:TNAV traded down $0.05 during mid-day trading on Thursday, reaching $5.20. The stock had a trading volume of 7,568 shares, compared to its average volume of 78,632. Telenav has a 1-year low of $4.50 and a 1-year high of $9.25.

Telenav (NASDAQ:TNAV) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.02. Telenav had a negative return on equity of 56.00% and a negative net margin of 38.56%. The business had revenue of $39.10 million during the quarter, compared to the consensus estimate of $39.03 million. During the same period last year, the firm earned ($0.26) earnings per share. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. analysts predict that Telenav will post -2.03 EPS for the current year.

In related news, CEO H.P. Jin bought 10,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was bought at an average cost of $5.07 per share, for a total transaction of $50,700.00. Following the completion of the purchase, the chief executive officer now directly owns 1,389,854 shares in the company, valued at approximately $7,046,559.78. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 24.67% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund boosted its position in shares of Telenav by 28.9% during the third quarter. New York State Common Retirement Fund now owns 347,305 shares of the technology company’s stock worth $2,205,000 after buying an additional 77,900 shares during the period. Ariel Investments LLC boosted its position in shares of Telenav by 21.2% during the fourth quarter. Ariel Investments LLC now owns 3,609,773 shares of the technology company’s stock worth $19,854,000 after buying an additional 632,037 shares during the period. SG Americas Securities LLC acquired a new position in shares of Telenav during the fourth quarter worth approximately $139,000. King Luther Capital Management Corp acquired a new position in shares of Telenav during the fourth quarter worth approximately $242,000. Finally, Divisar Capital Management LLC boosted its position in shares of Telenav by 5.0% during the fourth quarter. Divisar Capital Management LLC now owns 3,728,204 shares of the technology company’s stock worth $20,505,000 after buying an additional 178,013 shares during the period. Institutional investors and hedge funds own 52.42% of the company’s stock.

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Telenav Company Profile

TeleNav, Inc (Telenav) is a provider of location-based platform services. The Company’s services consist of its automotive and mobile navigation platform and its advertising delivery platform. The Company operates through three segments: automotive, advertising and mobile navigation. The automotive segment provides its map and navigation platform to auto manufacturers and original equipment manufacturers (OEMs) for distribution with their vehicles.

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