BMO Capital Raises PT on Navan (NAVN), Keeps a Buy

​Navan, Inc. (NASDAQ:NAVN) is one of the Most Promising New Technology Stocks to Buy According to Analysts. Navan, Inc. (NASDAQ:NAVN) has gained more than 12% over the past 30 days, and the Street expects more than 36% upside over the next 12 months.

​Recently, on June 11, BMO Capital raised the price target on the stock from $22 to $30 and maintained an Outperform rating on the shares. The rating comes after the company posted strong results for fiscal Q1 2027 on the same day. The company posted $220.23 million in revenue and topped the expectations of $205.27 million. The EPS of $0.08 also exceeded expectations of $0.01.

​The firm noted that the Q1 results were strong across all key metrics. Moreover, the accelerating growth in travel bookings and payments contributed to the overall revenue, which grew 40% year-over-year. The firm also highlighted a large runway ahead, with triple-digit growth in RFP activity suggesting growing demand from corporate customers.

​In the enterprise segment, BMO sees persistent upside potential driven partly by changes at major competitors, creating share-gain opportunities for Navan. The firm also praised the company’s AI strategy, noting it helps the company scale more efficiently and supports profitability as volume grows.

Navan, Inc. (NASDAQ:NAVN), a cloud-based business travel and expense management platform, was established in 2015 and is headquartered in Palo Alto, CA. The company utilizes artificial intelligence (AI) to automate processes and minimize manual interactions globally.

While we acknowledge the risk and potential of NAVN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NAVN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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