IOTS stock is getting buy recommendations from analysts.
On September 19, 2019, Craig-Hallum analyst Anthony Stoss started coverage of Adesto Techologies with a Buy rating and $13 price target. The analyst sees “strong” revenue and “explosive” EBITDA growth for the company.
On September 18, 2019, Loop Capital analyst David Williams started Adesto Technologies with a Buy rating and $13 price target, saying the company has been “transformed” with its recent acquisitions that enable its “new dynamic growth opportunities” with a “more attractive and complete” product portfolio. The analyst notes that he is particularly encouraged by the company’s prospects within the industry transition to intelligent control systems, having shifted from its position as a specialty memory supplier to offering a full stack of open solutions for Internet of Things applications. Williams adds that Adesto enjoys “little meaningful competition” in its core competencies and offers solid execution along with an expanding serviceable addressable market.
The MACD is a bit bearish so I’d like to see how this pullback is going to play out before taking any long entry.
Swing long uptrend support in the 30-minute time frame was broke on September 19, 2019.
We are not adding IOTS stock to the GST Portfolio at this time until we let the current pullback playout.
Disclosure: We do not hold any position in IOTS stock.