Telenav Inc (TNAV) is Initiated by FBR & Co. to Outperform, Price Target at $15

Telenav Inc (TNAV) was Initiated by FBR & Co. to “Outperform” and the brokerage firm has set the Price Target at $15. FBR & Co. advised their investors in a research report released on Oct 17, 2016.

On the company’s financial health, Telenav Inc reported $-0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.18. The company had revenue of $47.80 million for the quarter, compared to analysts expectations of $41.46 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Telenav Inc closed down -0.01 points or -0.17% at $5.72 with 56,897 shares getting traded on Friday. Post opening the session at $5.74, the shares hit an intraday low of $5.65 and an intraday high of $5.74 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 14, 2016, Loren E Hillberg (General Counsel) sold 7,803 shares at $5.22 per share price. According to the SEC, on Sep 14, 2016, Michael Strambi (CFO) sold 8,500 shares at $5.45 per share price. On Aug 10, 2016, H.p. Jin (CEO) purchased 7,500 shares at $5.36 per share price, according to the Form-4 filing with the securities and exchange commission.

TeleNav Inc. provides of location-based platform services consisting of map and navigation platform and advertising delivery platform. The Company’s map and navigation platform delivers location based services to developers auto manufacturers and end users. The Company’s uses map and navigation platform as the basis for delivering enhanced mobile applications. The Company offers its map and navigation platform services to auto manufacturers and original equipment manufacturers for distribution with their vehicles. The Company’s advertising delivery platform delivers targeted advertising services leveraging its location expertise. The advertising delivery platform offers advertisers significant audience reach sophisticated targeting capabilities and the ability to deliver interactive and engaging ad experiences to consumers on their mobile devices. The Company provides services in Automotive Navigation Advertising Network Services and Mobile Navigation Services.

Telenav Inc

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