Morgan Stanley analyst Chris Quintero raised the firm’s price target on Navan (NAVN) to $20 from $19 and keeps an Overweight rating on the shares. A 7% revenue beat is “a strong result out of the gate,” says the analyst, who remains convicted in Navan being a 20%-plus grower with enterprise momentum accelerating. FY26 revenue guidance was raised by more than the Q3 beat and now calls for 28% year-over-year growth versus consensus at 25%, the analyst added. The firm raised its price target on higher estimates, but calls a CFO transition this early into the public markets journey “surprising and something to monitor.”
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