Maxim Group analyst Nehal Chokshi initiated coverage with a Buy rating on Identiv (NASDAQ: INVE) today and set a price target of $7. The company’s shares closed on Friday at $3.96.
Chokshi noted:
“Within the $4B physical access control systems (PACS) market, INVE has ~10% share of federal doors, a significant cost advantage & growth catalysts. The Credentials segment has a building pipeline and is well-positioned for sustainable, long-term double-digit growth, in our view. Management’s strong professional track record, attention to detail, and heavily metric-driven management approach gives us further confidence in the long-term INVE story. Initiating coverage with a Buy rating and 12-month PT of $7.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 18.3% and a 67.6% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Identiv has an analyst consensus of Moderate Buy, with a price target consensus of $7.
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The company has a one-year high of $5.91 and a one-year low of $2.55. Currently, Identiv has an average volume of 17.29K.
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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.
