.jpg "Adesto Technologies Corp (NASDAQ: IOTS)")
In a report released yesterday, Josh Nichols from B.Riley FBR maintained a Buy rating on Adesto Technologies Corp (NASDAQ: IOTS), with a price target of $9.50. The company’s shares opened today at $5.70, close to its 52-week low of $4.70.
Nichols wrote:
“We have a Buy rating. Our $9.50 PT is based on an unchanged 2.5x 2019 EV/sales valuation methodology, in line with the company’s peers, although IOTS’s top-line growth trajectory and gross margin profile are significantly better than the peer group average. Risks Acquisition/integration. The company actively evaluates potential acquisitions as part of its growth strategy. Acquisitions pursued by the company could be dilutive to financial results and result in a difficult, dilutive, or expensive integration.”
According to TipRanks.com, Nichols is a 5-star analyst with an average return of 27.7% and a 59.8% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Pointer Telocation Ltd, Immersion Corp, and Horizon Global.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adesto Technologies Corp with a $9.75 average price target, which is a 71.1% upside from current levels. In a report issued on August 2, Needham also maintained a Buy rating on the stock with a $12 price target.
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Based on Adesto Technologies Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $5.06 million. In comparison, last year the company had a GAAP net loss of $1.75 million.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IOTS in relation to earlier this year. Most recently, in May 2018, Hollmer Shane, the VP Engineering of IOTS bought 5,321 shares for a total of $8,780.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Adesto Technologies Corp. engages in the development, manufacture, and market of non-volatile memory products. It offers DataFlash, Fusion Serial Flash, Standard Serial Flash, EcoXiP, Mavriq and Moneta. The company was founded by Narbeh Derhacobian, Ishai Naveh, and Shane Hollmer in January 2006 and is headquartered in Santa Clara, CA.
