9:38 ET - Navan is using artificial intelligence to grow four times faster than the rest of the corporate travel industry, Oppenheimer analysts say in a research note. The workplace travel software company has a proprietary AI assistant, Ava, which now handles 56% of all customer inquiries, they say. The software is helping Navan expand its gross margin and iterate on its products quickly to accelerate customer adoption, the analysts say. The company just raised its revenue guidance on the back of a 50% rise in gross booking value for fiscal 1Q, boosted by the fact that 45 S&P 500 companies now use its software, the analysts say. They raise the company's price target to $30 from $28. Shares rise 14% to $23.83. (dean.seal@wsj.com)

(END) Dow Jones Newswires

June 11, 2026 09:38 ET (13:38 GMT)

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