On June 19, Navan rose 5.03% in regular trading, trading at approximately $22.04/share, with turnover of $57.28 million. The rally was driven by the company's announcement on June 18 that it has signed an agreement to acquire Smartrips, a leading Brazilian travel management company, as part of its strategic expansion into Latin America.

The acquisition will allow Navan's customers operating in Brazil to book and manage travel through its unified platform rather than relying on separate local systems. The company expects to complete the transaction in fiscal Q2 2027 and stated the deal will not have a material impact on its previously issued guidance.

The move also builds on strong recent momentum. On June 10, Navan raised its fiscal 2027 revenue guidance to $907–$913 million from $866–$874 million, and lifted adjusted operating profit expectations to $76–$80 million from $58–$62 million. Following those results, Morgan Stanley reiterated an overweight rating and raised its price target to $33 from $25, while Oppenheimer raised its target to $30 from $28, both citing robust corporate travel demand and AI-driven operational efficiency gains.

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