Needham & Company LLC Increases Adesto Technologies Corporation (IOTS) Price Target to $6.50

Adesto Technologies Corporation (NASDAQ:IOTS) had its price objective hoisted by equities research analysts at Needham & Company LLC to $6.50 in a research note issued to investors on Wednesday. The firm currently has a “positive” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 64.56% from the company’s previous close.

The analysts wrote, “Adesto posted a beat and raise quarter. Revenue increased to $12.3MM and GMs increased 270 basis points Q/Q to 50.8%. Adesto completed the year with 280 design wins compared to 153 last year, and is seeing strength across all end markets. With proof points of 19% Y/Y growth in 2H16, guidance for quarterly record revenue in 2Q17, and EBITDA B/E in 2H17E, we believe Adesto is progressing well on design wins and new product technologies. With GMs improving, we believe the company deserves a $6.50 PT on a 1.8x EV/sales 2017.””

Separately, Benchmark Co. restated a “buy” rating on shares of Adesto Technologies Corporation in a research note on Tuesday, December 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $6.88.

Analyst Recommendations for Adesto Technologies Corporation (NASDAQ:IOTS)

Shares of Adesto Technologies Corporation (NASDAQ:IOTS) opened at 3.95 on Wednesday. Adesto Technologies Corporation has a 52 week low of $1.50 and a 52 week high of $5.85. The firm’s market cap is $61.18 million. The company’s 50-day moving average is $3.08 and its 200-day moving average is $2.45.

Adesto Technologies Corporation (NASDAQ:IOTS) last posted its earnings results on Tuesday, February 14th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The business had revenue of $12.30 million for the quarter, compared to analysts’ expectations of $12.20 million. Adesto Technologies Corporation had a negative net margin of 30.26% and a negative return on equity of 53.89%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) earnings per share. Analysts forecast that Adesto Technologies Corporation will post ($0.68) EPS for the current fiscal year.

“Needham & Company LLC Increases Adesto Technologies Corporation (IOTS) Price Target to $6.50” was first reported by sleekmoney and is owned by of sleekmoney. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark and copyright law. The original version of this news story can be accessed at http://sleekmoney.com/needham-company-llc-increases-adesto-technologies-corporation-iots-price-target-to-6-50/1662242.html.

A hedge fund recently raised its stake in Adesto Technologies Corporation stock. Gilder Gagnon Howe & Co. LLC raised its position in shares of Adesto Technologies Corporation (NASDAQ:IOTS) by 40.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,739,084 shares of the company’s stock after buying an additional 497,912 shares during the period. Gilder Gagnon Howe & Co. LLC owned 11.61% of Adesto Technologies Corporation worth $5,704,000 at the end of the most recent quarter. 20.16% of the stock is owned by hedge funds and other institutional investors.

Adesto Technologies Corporation 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.

5 Day Chart for NASDAQ:IOTS

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/needham-company-llc-increases-adesto-technologies-corporation-iots-price-target-to-6-50/1662242.html

Receive News & Ratings for Adesto Technologies Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adesto Technologies Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *