Needham & Company Starts Quantenna Communications (QTNA) at Buy
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Needham & Company initiates coverage on Quantenna Communications (NASDAQ: QTNA) with a Buy rating and a price target of $25.00.
Analyst N. Quinn Bolton commented, "We are initiating coverage of Quantenna with a Buy rating and are establishing a 12-month PT of $25 based on an EV of 3.8x 2018 sales. As the Wi-Fi chipset performance leader, we believe QTNA is uniquely positioned to benefit from consumer demand for higher-bandwidth, more reliable Wi-Fi service. QTNA has leveraged its market-leading performance to target sticky segments of the Wi-Fi market including service providers and high-end retail APs and has developed deep relationships with industry leaders. QTNA currently trades at a discount to its peer group and we see 25% upside to the shares over the next 12 months."
Shares of Quantenna Communications closed at $19.99 yesterday.
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