Rosenblatt lowered the firm’s price target on Navan (NAVN) to $20 from $30 and keeps a Buy rating on the shares ahead of the company’s Q4 report due on Wednesday, March 25. While the firm is expecting in-line or marginally better Q4 results for the next-gen cloud-based travel platform, it is trimming its price target given recent macro concerns and multiple compression in the application software sector.
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