Impinj, Inc. (NASDAQ:PI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Impinj, Inc. (NASDAQ:PI) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $146.86.

A number of equities research analysts have issued reports on PI shares. Piper Sandler increased their price target on Impinj from $100.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. Needham & Company LLC reduced their target price on shares of Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Susquehanna lifted their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday, July 22nd. Evercore ISI increased their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $133.00 price objective on shares of Impinj in a report on Thursday, April 24th.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Canada Pension Plan Investment Board purchased a new position in Impinj during the 4th quarter worth approximately $29,000. Banque Transatlantique SA acquired a new stake in shares of Impinj in the first quarter valued at approximately $29,000. Harbour Investments Inc. purchased a new position in shares of Impinj during the second quarter worth approximately $33,000. SBI Securities Co. Ltd. grew its position in shares of Impinj by 75.3% during the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the company’s stock worth $36,000 after acquiring an additional 171 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Impinj in the 1st quarter valued at $43,000.

Impinj Stock Performance

Shares of PI stock opened at $122.21 on Thursday. The firm has a 50 day moving average of $113.91 and a two-hundred day moving average of $105.04. The stock has a market capitalization of $3.54 billion, a PE ratio of -3,054.49 and a beta of 1.64. The company has a quick ratio of 7.46, a current ratio of 10.96 and a debt-to-equity ratio of 1.77. Impinj has a 52 week low of $60.85 and a 52 week high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.08. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The business had revenue of $97.89 million for the quarter, compared to analysts’ expectations of $93.78 million. During the same period last year, the firm earned $0.83 earnings per share. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. On average, research analysts predict that Impinj will post -0.47 EPS for the current fiscal year.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.