Identiv (INVE) Receives a Buy from Oppenheimer


In a report released yesterday, Andrew Uerkwitz from Oppenheimer maintained a Buy rating on Identiv (INVE), with a price target of $7. The company’s shares closed yesterday at $5.31.

Uerkwitz commented:

“INVE reported 1Q19 results of $19.5M and Adj EBITDA of $1.2M, better than our estimates of $19.3M/$0.9M. Identiv saw strong continued margin expansion and the 11th consecutive quarter of positive adj. EBITDA…despite March being the seasonally low quarter and the company working through a government shutdown. Also during the quarter, the company was awarded multiple $5M+ multi-quarter contracts. We initiated on the thesis Identiv can grow well above industry while also getting leverage across segments and platforms on a shift towards stronger customer engagement and software centric access control. This quarter is the first of many. Reiterate Outperform.”

According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 18.3% and a 57.5% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Axon Enterprise Inc, Turtle Beach Corp, and Universal Display.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Identiv with a $9 average price target.

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Based on Identiv’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $630K. In comparison, last year the company had a GAAP net loss of $2.31 million.

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Identiv, Inc. engages in the provision of physical security and secure identification products. It operates through the Premises and Identity segments.

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