Needham & Company Starts Quantenna Communications (QTNA) at Buy

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."

For an analyst ratings summary and ratings history on Quantenna Communications click here. For more ratings news on Quantenna Communications click here.

Shares of Quantenna Communications closed at $19.99 yesterday.

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