Identiv, Inc. INVE shares rallied 5.3% in the last trading session to close at $21.67. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 18.7% 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.
Identive has topped the Zacks Consesus Estimate for revenues and earnings in the trailing four quarters. In its last financial results for third-quarter 2021, the company reported non-GAAP earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to non-GAAP earnings of $0.01 per share a year ago. Moreover, quarterly revenues increased 17% year-over-year to $29.1 million and surpassed the Zacks Consensus Estimate of $28.7 million.
This company is expected to post quarterly earnings of $0.04 per share in its upcoming report, which represents a year-over-year change of +180%. Revenues are expected to be $28.45 million, up 14.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with 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 the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Identiv, Inc. is part of the Zacks Computer – Peripheral Equipment industry. Vuzix VUZI, another stock in the same industry, closed the last trading session 2.2% higher at $5.55. VUZI has returned -3.9% in the past month.
Vuzix’s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. Compared to the company’s year-ago EPS, this represents a change of -33.3%. Vuzix currently boasts a Zacks Rank of #3 (Hold).
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