Identiv, Inc.
INVE
shares soared 10.1% in the last trading session to close at $15.63. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 22.3% gain over the past four weeks.
The upswing came after Identive reported narrower-than-expected loss for first-quarter 2021. The company came out with a quarterly loss of $0.09 per share versus 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.
Price and Consensus
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +66.7%. Revenues are expected to be $22.92 million, up 19.9% 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 been revised 16.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. 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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