Maxim Group analyst Nehal Chokshi maintained a Buy rating on Identiv (INVE) today and set a price target of $8. The company’s shares closed yesterday at $4.05.
Chokshi wrote:
“Recent, sharp underperformance (31% underperformance since 3Q18 results) which we attribute to investor misperceptions of INVE’s organic results is unjustified, in our view. INVE recently closed two acquisitions and announced new with two major banking customers. Given the recent acquisition of Viscount Systems core assets, we are conservatively raising CY19 revenue estimate by $4M. Maintain Buy rating and $8 price target.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 8.9% and a 56.2% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Currently, the analyst consensus on Identiv is a Moderate Buy with an average price target of $8.
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Based on Identiv’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $287K. In comparison, last year the company had a GAAP net loss of $4.52 million.
Based on the recent corporate insider activity of 15 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 INVE in relation to earlier this year.
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Identiv, Inc. engages in the business of security technology focuses on data, physical places and things. It operates through the following segments: Premises. Identity, and Credentials, and All Other.
