1035 ET - Navan is winning big this year thanks to persistent corporate travel demand despite broad disruptions, Mizuho analyst Siti Panigrahi says in a research note. The corporate travel and expense-management company delivered strong results in F1Q, with gross booking volume jumping 50% and revenue climbing 40% year-over-year, the analyst says. That all happened despite winter storms, the TSA shutdown and conflict in the Middle East, Panigrahi says. Navan has increased its roster of S&P 500 companies to 45 from just 28 a year ago, showcasing enterprise momentum as it wins customers and lands big deals, the analyst says. "Navan's growth durability, platform differentiation, and inherently profitable model remain underappreciated," Panigrahi adds, raising his price target to $30 from $25. Navan surges 14%. (dean.seal@wsj.com)
(END) Dow Jones Newswires
June 11, 2026 10:35 ET (14:35 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.