$20.42 Million in Sales Expected for Identiv Inc (INVE) This Quarter

Equities analysts predict that Identiv Inc (NASDAQ:INVE) will report $20.42 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Identiv’s earnings. The highest sales estimate is $21.10 million and the lowest is $19.73 million. Identiv reported sales of $16.56 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.3%. The business is scheduled to report its next quarterly earnings report on Thursday, March 14th.

On average, analysts expect that Identiv will report full year sales of $76.78 million for the current fiscal year, with estimates ranging from $76.24 million to $77.32 million. For the next fiscal year, analysts anticipate that the firm will post sales of $83.65 million, with estimates ranging from $81.95 million to $85.35 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Identiv.

Identiv (NASDAQ:INVE) last posted its earnings results on Thursday, August 9th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.06). Identiv had a negative net margin of 15.40% and a negative return on equity of 28.82%. The business had revenue of $20.29 million for the quarter, compared to analysts’ expectations of $17.31 million.

INVE has been the topic of several research analyst reports. Zacks Investment Research cut Identiv from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Roth Capital initiated coverage on Identiv in a research note on Wednesday, August 1st. They set a “buy” rating and a $9.00 target price on the stock. ValuEngine raised Identiv from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 16th. Lake Street Capital initiated coverage on Identiv in a research note on Tuesday, September 4th. They set a “buy” rating and a $9.00 target price on the stock. Finally, Northland Securities reissued a “buy” rating and set a $10.00 target price on shares of Identiv in a research note on Sunday, August 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.90.

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new position in shares of Identiv during the third quarter valued at approximately $205,000. BlackRock Inc. boosted its position in shares of Identiv by 3.7% during the second quarter. BlackRock Inc. now owns 283,663 shares of the technology company’s stock valued at $1,098,000 after purchasing an additional 10,035 shares in the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in shares of Identiv by 33.1% during the third quarter. Essex Investment Management Co. LLC now owns 592,660 shares of the technology company’s stock valued at $3,532,000 after purchasing an additional 147,346 shares in the last quarter. 30.63% of the stock is currently owned by hedge funds and other institutional investors.

INVE opened at $6.45 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.08 and a current ratio of 1.49. Identiv has a 52-week low of $2.84 and a 52-week high of $6.87. The company has a market cap of $92.89 million, a PE ratio of -16.97 and a beta of 0.22.

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.

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