Navan Inc (NAVN) PT Lowered to $20 at Jefferies

Jefferies analyst Samad Samana lowered the price target on Navan Inc (NASDAQ: NAVN) to $20.00 (from $25.00) while maintaining a Buy rating.

The analyst comments "Total rev beat by 6%, paced by Usage Rev growth (+29% y/y) accelerating modestly against a tougher comp. GBV drove the upside. Mgmt's commentary on enterprise traction was encouraging. Op mgn of 13% beat sharply. The F4Q guidance beat consensus and leaves ample room for upside. In a vacuum, the fundamentals would likely have driven a relief rally for the beleaguered stock. However, the surprising CFO departure will likely hurt investor confidence in the ST."

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