Northland Securities analyst Michael Latimore maintained a Buy rating on Identiv (INVE) today and set a price target of $8.50. The company’s shares closed last Tuesday at $6.91, close to its 52-week high of $7.38.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 17.4% and a 54.8% success rate. Latimore covers the Technology sector, focusing on stocks such as Comtech Telecommunications, Synchronoss Technologies, and Ribbon Communications.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Identiv with a $8.25 average price target.
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Based on Identiv’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.11 million and GAAP net loss of $2.75 million. In comparison, last year the company earned revenue of $22.24 million and had a net profit of $416K.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of INVE in relation to earlier this year.
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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. The Premises segment offers solutions to address the premises security market for government and enterprise, including access control, video surveillance, analytics, customer experience, and other applications. The Identity segment consists of products and solutions enabling secure access to information serving the logical access and cyber security market and protecting assets and objects in the Internet of Things with radio frequency identification. The company was founded in 1990 and is headquartered in Fremont, CA.
