Navan tumbles on cost concerns, overshadowing strong quarter
NAVN•Analyst view and year-to-date performance
The average rating of 15 analysts is "buy"; median price target is $30, according to LSEG-compiled data.
The stock is up about 51.6% year to date, compared with a 13% rise in the Nasdaq .IXIC.
Shares fall despite stronger quarterly results
Corporate travel and expense platform Navan's shares dip 13.8% to $22.3 premarket.
The company beats Q2 estimates and raises its full-year forecast, but reports higher operating costs.
Operating expenses increase 46% to $200.2 million in Q2, outpacing 35% revenue growth, while operating loss widens to $25.6 million from $12.3 million a year earlier.
Outlook raised for fiscal 2026 and third quarter
Navan raises its fiscal year revenue forecast range to $927 million-$933 million from $907 million-$913 million and hikes adjusted operating income outlook to $82 million-$86 million.
For Q3, the company forecasts revenue of $253 million-$255 million, above analysts' expectations of $248.27 million, per LSEG data.
