Identiv Inc (NASDAQ:INVE) Receives $7.70 Consensus Price Target from Brokerages

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Shares of Identiv Inc (NASDAQ:INVE) have received a consensus recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.70.

Several equities research analysts have recently issued reports on INVE shares. Imperial Capital lowered their price objective on shares of Identiv from $9.50 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. ValuEngine cut shares of Identiv from a “buy” rating to a “hold” rating in a research note on Tuesday. Northland Securities reiterated a “buy” rating on shares of Identiv in a research note on Friday, August 9th. Zacks Investment Research raised shares of Identiv from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Tuesday, November 12th. Finally, Roth Capital restated a “buy” rating on shares of Identiv in a research report on Monday, August 5th.

Shares of NASDAQ INVE traded down $0.14 during trading hours on Thursday, hitting $5.11. 1,188 shares of the company’s stock were exchanged, compared to its average volume of 59,980. The company’s 50-day moving average price is $4.97 and its 200-day moving average price is $4.95. Identiv has a 1-year low of $3.34 and a 1-year high of $6.38. The stock has a market capitalization of $91.72 million, a price-to-earnings ratio of -16.97 and a beta of 1.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.37 and a quick ratio of 0.96.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Thursday, November 7th. The technology company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. Identiv had a return on equity of 2.96% and a net margin of 1.21%. The company had revenue of $23.03 million for the quarter, compared to the consensus estimate of $25.32 million. During the same period in the previous year, the business posted ($0.02) EPS. On average, research analysts expect that Identiv will post 0.03 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Identiv in the 3rd quarter worth approximately $67,000. Penbrook Management LLC bought a new stake in shares of Identiv during the third quarter valued at approximately $129,000. River & Mercantile Asset Management LLP bought a new stake in shares of Identiv during the second quarter valued at approximately $3,205,000. Morgan Stanley increased its position in shares of Identiv by 707.3% during the second quarter. Morgan Stanley now owns 16,994 shares of the technology company’s stock valued at $87,000 after purchasing an additional 14,889 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Identiv by 0.5% in the second quarter. Vanguard Group Inc. now owns 504,401 shares of the technology company’s stock valued at $2,583,000 after purchasing an additional 2,701 shares in the last quarter. Institutional investors own 21.42% of the company’s stock.

About Identiv

Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.

See Also: Blockchain

Analyst Recommendations for Identiv (NASDAQ:INVE)

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