Identiv (NASDAQ:INVE) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Identiv (NASDAQ:INVE) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports. The firm currently has $5.25 price target on the technology company’s stock.

According to Zacks, “Identiv Inc. is a global security technology company. It provides trust solutions in the connected world, including premises, information and everyday items. The Company’s trust solutions are implemented using standards-driven products and technology, such as hardware, software, digital certificates, and mobility and cloud services. Its products are used in corporate employee identification cards, company email, information technology networks and facility access control, in national ID cards and passports, transport passes, banking and other uses. Identiv Group, Inc., formerly known as Identive Group, Inc., is headquartered in Fremont, California. “

A number of other analysts have also recently commented on INVE. Oppenheimer began coverage on Identiv in a research note on Tuesday, April 30th. They issued an outperform rating and a $7.00 price target for the company. Imperial Capital began coverage on Identiv in a research note on Friday, May 17th. They issued an outperform rating and a $8.75 price target for the company. Northland Securities set a $75.00 price target on Rapid7 and gave the company a buy rating in a research note on Monday. TheStreet cut USD Partners from a b- rating to a c+ rating in a research note on Friday, May 10th. Finally, Maxim Group set a $7.00 price target on Net 1 UEPS Technologies and gave the company a buy rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $8.25.

Identiv stock traded up $0.02 during trading hours on Tuesday, reaching $4.90. 4 shares of the company’s stock traded hands, compared to its average volume of 20,092. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.31 and a quick ratio of 0.89. Identiv has a fifty-two week low of $3.34 and a fifty-two week high of $6.87. The company has a market cap of $80.60 million, a price-to-earnings ratio of -16.33 and a beta of 1.68. The business’s 50 day moving average price is $4.87.

Identiv (NASDAQ:INVE) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $19.52 million during the quarter, compared to analysts’ expectations of $19.41 million. Identiv had a negative return on equity of 5.46% and a negative net margin of 3.96%.

In other Identiv news, CEO Steven Humphreys bought 10,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of $4.97 per share, with a total value of $49,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management increased its stake in Identiv by 7.7% during the 1st quarter. Hollencrest Capital Management now owns 42,105 shares of the technology company’s stock worth $212,000 after purchasing an additional 3,000 shares in the last quarter. Deutsche Bank AG increased its stake in Identiv by 30.8% during the 4th quarter. Deutsche Bank AG now owns 47,380 shares of the technology company’s stock worth $170,000 after purchasing an additional 11,165 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Identiv by 7.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 31,769 shares of the technology company’s stock worth $114,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Granite Investment Partners LLC bought a new stake in Identiv during the 1st quarter worth approximately $740,000. 32.02% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Price to Earnings Ratio (PE)

Get a free copy of the Zacks research report on Identiv (INVE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Identiv (NASDAQ:INVE)

Receive News & Ratings for Identiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Identiv and related companies with MarketBeat.com's FREE daily email newsletter.