Jefferies hiked its price target for Navan to $26 from $18, implying an upside of nearly 25% compared to Wednesday’s closing price.
- Jefferies attributed Navan’s Q1 beat to continued strength across its platform and said it continues to view the stock's risk-reward profile as compelling.
- Citi highlighted accelerating performance across Navan's core metrics and said the company appears to be firing on all cylinders.
- Citizens analyst Patrick Walravens argued that concerns about rapid advances in AI weighing on Navan's business are overstated.
Shares of Navan Inc. (NAVN) are on track to open at an all-time high on Thursday after the company’s first-quarter (Q1) beat sent the stock soaring in the pre-market session.
According to TheFly, Jefferies hiked its price target for Navan to $26 from $18, implying an upside of nearly 25% compared to Wednesday’s closing price.
Navan shares were up more than 17% ahead of the opening bell on Thursday, headed for the best single-day performance in more than two months.
Why Is Wall Street Turning Bullish On NAVN?
Jefferies attributed Navan’s Q1 beat to continued strength across its platform and said it continues to view the stock's risk-reward profile as compelling. The firm also expects further upside as buy-side estimates move higher following the strong quarter.
Citi raised its price target on Navan to $28 from $21 and reiterated its ‘Buy’ rating after the company delivered what the firm described as an "outsized beat" in the first quarter.
The firm highlighted accelerating performance across Navan's core metrics and said the company appears to be “firing on all cylinders.”
Citizens analyst Patrick Walravens raised his price target on Navan to $38 from $31 and reiterated an ‘Outperform’ rating. He argued that concerns about rapid advances in AI weighing on Navan's business are overstated.
Walravens stated that he continues to view the shares as an attractive opportunity for capital appreciation at current levels.
What Fueled NAVN’s Q1 Beat?
Navan’s Chief Financial Officer, Aurélien Nolf, said that the company’s better-than-expected performance in Q1 was fueled by very resilient on-platform booking activity, strong new-customer ramps, and rapidly expanding payments volume.
“This growth enabled us to deliver meaningful gross and operating margin expansion, underscoring the leverage potential in our business as we scale. With a strong balance sheet and accelerating momentum across the business, we are raising both our FY’27 revenue and non-GAAP operating profit outlook,” Nolf added.
Navan reported earnings per share (EPS) of $0.09 on revenue of $220 million, compared to Wall Street estimates of an EPS of $0.01 on revenue of $205 million, according to Fiscal.ai data.
The company also raised its fiscal year 2027 revenue forecast to $907 million to $913 million, up from $866 million to $874 million.
How Did Retail Traders React To NAVN Stock?
Retail sentiment on Stocktwits around Navan trended in the ‘extremely bullish’ territory, with message volumes at ‘extremely high’ levels at the time of writing.
NAVN stock is up 22% year-to-date, but down 5% over the past 12 months. The iShares Russell 2000 ETF (IWM) is up 31% over the past 12 months, while the iShares Russell 2000 Growth ETF (IWO) is up 29%.
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