Brokerages Expect Identiv Inc (NASDAQ:INVE) Will Announce Quarterly Sales of $24.73 Million

Wall Street brokerages expect Identiv Inc (NASDAQ:INVE) to announce sales of $24.73 million for the current quarter, according to Zacks. Five analysts have provided estimates for Identiv’s earnings, with the highest sales estimate coming in at $26.40 million and the lowest estimate coming in at $23.70 million. Identiv reported sales of $21.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.1%. The business is scheduled to report its next earnings results on Thursday, March 5th.

On average, analysts expect that Identiv will report full year sales of $89.11 million for the current fiscal year, with estimates ranging from $88.49 million to $89.55 million. For the next financial year, analysts expect that the firm will report sales of $102.10 million, with estimates ranging from $100.87 million to $102.83 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Identiv.

Identiv (NASDAQ:INVE) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The company had revenue of $23.03 million during the quarter, compared to analyst estimates of $25.32 million. Identiv had a net margin of 1.21% and a return on equity of 2.96%. During the same period last year, the business earned ($0.02) EPS.

INVE has been the subject of several research analyst reports. Northland Securities reissued a “buy” rating on shares of Identiv in a report on Friday, August 9th. ValuEngine downgraded Identiv from a “buy” rating to a “hold” rating in a report on Tuesday. Maxim Group set a $9.00 target price on Identiv and gave the stock a “buy” rating in a research report on Friday, August 9th. Imperial Capital decreased their target price on Identiv from $9.50 to $9.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, Zacks Investment Research upgraded 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. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Identiv currently has an average rating of “Buy” and an average target price of $8.25.

Large investors have recently made changes to their positions in the stock. Millennium Management LLC acquired a new position in Identiv during the 3rd quarter valued at approximately $67,000. Morgan Stanley increased its position in Identiv by 707.3% in 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 during the period. Penbrook Management LLC bought a new stake in Identiv in the third quarter valued at $129,000. BlackRock Inc. lifted its stake in Identiv by 4.0% in the second quarter. BlackRock Inc. now owns 294,438 shares of the technology company’s stock valued at $1,508,000 after buying an additional 11,214 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Identiv by 0.5% during the second quarter. Vanguard Group Inc. now owns 504,401 shares of the technology company’s stock valued at $2,583,000 after acquiring an additional 2,701 shares during the period. 21.42% of the stock is owned by institutional investors and hedge funds.

Shares of INVE stock opened at $5.12 on Wednesday. The stock has a market capitalization of $91.72 million, a price-to-earnings ratio of -17.07 and a beta of 1.42. Identiv has a one year low of $3.34 and a one year high of $6.38. The company’s 50-day simple moving average is $4.98 and its 200-day simple moving average is $4.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.96 and a current ratio of 1.37.

Identiv Company Profile

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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