Equities analysts forecast that Identiv Inc (NASDAQ:INVE) will post sales of $25.32 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Identiv’s earnings. The lowest sales estimate is $24.80 million and the highest is $25.74 million. Identiv posted sales of $20.02 million during the same quarter last year, which suggests a positive year-over-year growth rate of 26.5%. The company is expected to announce its next quarterly earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Identiv will report full year sales of $92.92 million for the current fiscal year, with estimates ranging from $92.30 million to $93.58 million. For the next fiscal year, analysts expect that the firm will post sales of $104.29 million, with estimates ranging from $100.50 million to $107.62 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Identiv.
Identiv (NASDAQ:INVE) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $22.24 million for the quarter, compared to analyst estimates of $22.76 million. Identiv had a negative return on equity of 0.42% and a negative net margin of 0.38%. During the same period last year, the company earned ($0.18) EPS.
A number of equities research analysts have recently weighed in on INVE shares. Oppenheimer started coverage on Identiv in a research report on Tuesday, April 30th. They issued an “outperform” rating and a $7.00 price objective on the stock. Maxim Group set a $9.00 price objective on Identiv and gave the stock a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research upgraded Identiv from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research report on Thursday. National Securities started coverage on Identiv in a research report on Tuesday, July 16th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Imperial Capital lifted their price objective on Identiv from $8.75 to $9.50 and gave the stock a “positive” rating in a research report on Monday, August 12th. Nine equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $8.46.
In other news, CEO Steven Humphreys bought 10,000 shares of the stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $4.97 per share, for a total transaction of $49,700.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.90% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in INVE. Essex Investment Management Co. LLC grew its holdings in Identiv by 14.8% during the second quarter. Essex Investment Management Co. LLC now owns 626,069 shares of the technology company’s stock worth $3,205,000 after buying an additional 80,790 shares in the last quarter. Morgan Stanley grew its holdings in Identiv by 707.3% during the second quarter. Morgan Stanley now owns 16,994 shares of the technology company’s stock worth $87,000 after buying an additional 14,889 shares in the last quarter. Vanguard Group Inc. grew its holdings in Identiv by 0.5% during the second quarter. Vanguard Group Inc. now owns 504,401 shares of the technology company’s stock worth $2,583,000 after buying an additional 2,701 shares in the last quarter. BlackRock Inc. grew its holdings in Identiv by 4.0% during the second quarter. BlackRock Inc. now owns 294,438 shares of the technology company’s stock worth $1,508,000 after buying an additional 11,214 shares in the last quarter. Finally, Granite Investment Partners LLC bought a new stake in Identiv during the first quarter worth $740,000. Institutional investors own 32.02% of the company’s stock.
Shares of INVE stock traded down $0.10 during trading hours on Monday, reaching $4.90. The company’s stock had a trading volume of 28,000 shares, compared to its average volume of 43,386. The stock has a market capitalization of $80.10 million, a P/E ratio of -16.33 and a beta of 1.68. Identiv has a one year low of $3.34 and a one year high of $6.87. The firm’s fifty day simple moving average is $4.92 and its 200 day simple moving average is $5.07. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.16.
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.
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