Adesto Technologies Corp. (NASDAQ:IOTS) Receives $6.25 Consensus Price Target from Brokerages
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.25.
Several brokerages recently weighed in on IOTS. Needham & Company LLC dropped their target price on shares of Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 10th. Zacks Investment Research downgraded shares of Adesto Technologies Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Roth Capital initiated coverage on shares of Adesto Technologies Corp. in a report on Thursday, September 1st. They issued a “buy” rating and a $4.00 target price for the company. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Adesto Technologies Corp. in a report on Wednesday, June 15th.
Several hedge funds and other institutional investors have recently made changes to their positions in IOTS. Spark Investment Management LLC increased its position in shares of Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock worth $130,000 after buying an additional 6,849 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock worth $210,000 after buying an additional 36,975 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in shares of Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock worth $5,704,000 after buying an additional 497,912 shares during the last quarter. 25.20% of the stock is owned by hedge funds and other institutional investors.
Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.53 on Wednesday. The company’s 50-day moving average price is $2.33 and its 200-day moving average price is $3.56. The stock’s market cap is $38.09 million. Adesto Technologies Corp. has a one year low of $1.98 and a one year high of $8.50.
Adesto Technologies Corp. (NASDAQ:IOTS) last issued its earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.02. The company had revenue of $10.30 million for the quarter, compared to the consensus estimate of $10.20 million. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.15) earnings per share. Analysts forecast that Adesto Technologies Corp. will post ($0.71) EPS for the current fiscal year.
Adesto Technologies Corp. Company Profile
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
Receive News & Stock Ratings for Adesto Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adesto Technologies Corp. and related stocks with our FREE daily email newsletter.