Canaccord Genuity Thinks Adesto Technologies Corp’s Stock is Going to Recover


In a report released yesterday, Michael Walkley from Canaccord Genuity maintained a Buy rating on Adesto Technologies Corp (NASDAQ: IOTS), with a price target of $9. The company’s shares opened today at $5.30, close to its 52-week low of $4.25.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 17.3% and a 62.5% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Digi International Inc, and BlackBerry Limited.

Currently, the analyst consensus on Adesto Technologies Corp is a Strong Buy with an average price target of $10, representing an 88.7% upside. In a report released today, Needham also maintained a Buy rating on the stock with a $12 price target.

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The company has a one-year high of $10.80 and a one-year low of $4.25. Currently, Adesto Technologies Corp has an average volume of 466.6K.

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.

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