In a report released today, Josh Nichols from B.Riley FBR maintained a Buy rating on Telenav (TNAV). The company’s shares opened today at $4.55.
Nichols noted:
“Buy-rated Telenav (TNAV $9.50 PT), our Alpha Generator pick, reported F1Q19 (Sep) billings, revenue, and EBITDA on billings of $59M, $52M, and $(2.8M). Billings and revenue came in below our $61M and $54M projections due largely to weaker-than-expected mobile advertising revenue (down 22% Y/Y to $5.9M), while EBITDA on billings beat our $(3.5M) projections due to favorable opex. Billings were down 10.3% Y/Y due to a decrease in passthrough third- party content costs associated with Ford (F), although direct contribution margin from billings increased from 37.8% in F1Q18 to 40.5%. Unit volumes with Ford also increased Y/Y due to improved take rates resulting from consumers’ preference for higher-end SUVs.”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 14.7% and a 40.0% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
The the analyst consensus on Telenav is currently a Moderate Buy rating.
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The company has a one-year high of $6.60 and a one-year low of $4.08. Currently, Telenav has an average volume of 70.71K.
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TeleNav, Inc. engages in the provision of personalized mobile navigation and location based platform services. It operates through the following segments: Automotive, Advertising, and Mobile Navigation. The Automotive segment supplies map and navigation platform to auto and original equipment manufacturers for distribution with its vehicles.
