Identiv selloff not reflective of growth opportunities, says Lake Street
After hosting a call for institutional investors with Identiv's CEO Steve Humphreys and CFO Sandra Wallach, Lake Street analyst Jaeson Schmidt reiterates a Buy rating on Identiv with a $9 price target. The analyst left the call feeling increasingly confident that the company is positioned for "strong" top and bottom line growth this year and next. Simply put, Identiv is on a path of sustained mid-teens revenue growth, a growing recurring revenue base, and improving profitability, Schmidt tells investors in a research note. He thinks the stock's 25% decline since reporting Q3 earnings is not reflective of Identiv's "solid execution and growth opportunities."