Navan Likely to Post Fiscal Q1 Beat, Oppenheimer Says

MT Newswires Live06-05 22:50

Navan (NAVN) is likely to post a fiscal Q1 beat as its consumption revenue model benefits from higher airfares amid a potentially solid industry backdrop, Oppenheimer said in a Friday research report.

The company is due to report fiscal Q1 results on June 10.

Recent stock momentum was driven by accelerating client wins, facilitated by artificial intelligence-powered product enhancements, as well as investors viewing Navan as a disruptive firm with margin expansion opportunities, according to the note.

While the company's strategic initiatives should continue to benefit margins, its AI beneficiary narrative in corporate travel complex servicing ecosystem is starting to resonate with investors, analysts wrote.

The brokerage maintained its outperform rating on the stock and boosted its price target to $28 per share from $20.

Price: 21.83, Change: -0.43, Percent Change: -1.93

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