Identiv, Inc.
INVE
shares soared 11.2% in the last trading session to close at $17.46. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 10.2% gain over the past four weeks.
Identiv’s stock appreciated on the continued optimism surrounding the security technology market. It is a security technology provider that offers everything from secure corporate IDs and other radio-frequency identification (RFID)-enabled applications to more effective video and data analytics.
Last month, Identive reported better-than-expected results for first-quarter 2021. The company came out with a quarterly loss of $0.09 per share, narrower than the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.13 per share a year ago. Moreover, quarterly revenues increased 22% year-over-year to $22.2 million and surpassed the Zacks Consensus Estimate of $21.9 million.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of +44.4%. Revenues are expected to be $22.69 million, up 18.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Identiv, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on INVE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see
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