Street View: Navan to benefit from strong corporate travel demand

Navan

11/06/2026 12:57

** Corporate travel booking agency Navan NAVN.O on Wednesday raised its annual forecasts for revenue and operating income, citing strong business travel demand and growth in its enterprise customer base
** At least seven brokerages raise PT on NAVN
** Shares rise ~20% to $25 premarket
** Median PT of 15 brokerages covering NAVN is $29 - LSEG data

RESILIENT CORPORATE DEMAND AND GROWING AI MOMENTUM

** Jefferies says NAVN continues to expand its market share by combining sales-led approach, focused on large enterprises and mid-sized clients, with product-driven self-serve model that attracts and converts smaller customers
** Morgan Stanley says NAVN's proprietary AI, powered by its Cognition orchestration layer, is increasingly handling customer interactions, rising from 20% to 30%, thereby improving efficiency 
** Mizuho says corporate travel demand remains resilient despite widespread disruptions from winter storms and TSA shutdown concerns to conflict in the Middle East
** Adds that NAVN counts 45 of S&P 500 as customers, up from 28 a year ago

Brokerages
New PT
Old PT
Jefferies 
$26
$18
Morgan Stanley 
$33
$25
Mizuho
$30
$25
Needham
$30
$25
BMO 
$30
$22
Citigroup
$28
$21
Rosenblatt
$27 
$24

 (Reporting by Megavarshini G. Somasundaram in Bengaluru)
 ((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))