Identiv (NASDAQ:INVE) Announces Earnings Results, Misses Expectations By $0.06 EPS

Identiv (NASDAQ:INVE) released its earnings results on Wednesday. The technology company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06), RTT News reports. Identiv had a negative net margin of 4.72% and a negative return on equity of 7.39%. During the same period in the prior year, the firm posted ($0.13) earnings per share. Identiv updated its Q2 2024 guidance to EPS.

Identiv Stock Performance

Shares of NASDAQ INVE traded down $0.45 during trading hours on Thursday, reaching $4.56. 66,460 shares of the stock were exchanged, compared to its average volume of 87,168. The stock’s fifty day simple moving average is $6.53 and its 200 day simple moving average is $7.10. The firm has a market capitalization of $106.39 million, a price-to-earnings ratio of -17.89 and a beta of 1.39. Identiv has a 52 week low of $4.56 and a 52 week high of $9.26.

Wall Street Analysts Forecast Growth

INVE has been the topic of several analyst reports. B. Riley cut their price target on shares of Identiv from $10.00 to $9.50 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. StockNews.com downgraded Identiv from a “hold” rating to a “sell” rating in a research report on Monday.

Identiv Company Profile

Identiv, Inc, a security technology company, that provides secure identification and physical security solutions that secure things, data, and physical places worldwide. It operates in two segments, Identity and Premises. The Identity segment offers products and solutions that enables secure access to information serving the logical access and cyber security markets, as well as protecting connected objects and information using radio-frequency identification embedded security.