5 Best Multibagger Stocks To Buy Now

4. Identiv, Inc. (NASDAQ:INVE)

12-Month Returns as of January 3: 237.09%

Number of Hedge Fund Holders: 10

Identiv, Inc. (NASDAQ:INVE) is a global leader in authentication and security solutions. The company verifies operations, protects identities from malicious attacks, secures intellectual property, and works to innovate its services using IoT. 

Identiv, Inc. (NASDAQ:INVE), on November 2, reported earnings for the third quarter. The company posted earnings per share of $0.06, beating estimates by $0.02. The $29.01 million revenue was up 17.05% year-over-year, but missed estimates by $88,250. 

In the third quarter of 2021, 10 hedge funds in the database of Insider Monkey were long Identiv, Inc. (NASDAQ:INVE), holding stakes worth $78.8 million. This is compared to 7 funds holding stakes in Identiv, Inc. (NASDAQ:INVE) in the preceding quarter, valued at $65 million. 

Riley analyst Craig Ellis raised the price target on Identiv, Inc. (NASDAQ:INVE) on November 3 to $31 from $26 and reiterated a Buy rating on the shares following the Q3 beat. The analyst believes that Identiv, Inc. (NASDAQ:INVE) is “approaching a high-volume” internet of things inflection, led by its “differentiated” IoT offerings.

Portolan Capital Management is the leading company stakeholder as of Q3 2021, with 1.48 million shares worth over $28 million. 

Here is what Choice Equities Capital Management has to say about Identiv, Inc. (NASDAQ:INVE) in its Q3 2021 investor letter:

“INVE –Recent reports and field research each suggest Identiv is well-positioned to become a much larger company. CEO Steve Humphries is having success building out the team. In the past quarter, he successfully lured Amir Khoshniyati away from SmarTrac at Avery Dennison to become VP of Business Development, who himself has since successfully convinced several of his former colleagues to help him expand the sales efforts alongside him at Identiv. The burgeoning sales team has been busy and productive, enabling further additions to the company’s backlog, which was up 51% on a year-over-year basis in the quarter. And the pipeline of new business and potential new use cases is expanding rapidly. The elephant-sized, billion-plus unit opportunities such as the deployment of chips in syringes and cannabis continue to move forward and remain in sight as potential drivers next year. But perhaps more importantly as it relates to the likelihood of success for the market for radio-frequency identification (RFID) chips based on near field communications (NFC) technology, the long tail of new and small-to medium sized use case opportunities has been the primary driver of unit growth thus far. Signs suggest continued reason for optimism for this small company and their market leading position in potentially massive end markets built around securely connecting physical things to the digital world.”