Navan price target raised to $23 from $22 at Goldman Sachs

Goldman Sachs analyst Gabriela Borges raised the firm’s price target on Navan (NAVN) to $23 from $22 and keeps a Buy rating on the shares after its better than expected Q4 results. Navan sustained business momentum and delivered on profitability, with rule of 52 in the quarter and rule of 35 for the year, the analyst tells investors in a research note. The company’s earnings call also outlined how their product strategy, enhanced by AI, will widen the moat vs. fast-follower peers and incumbents, the firm added.