Impinj (NASDAQ:PI) Given New $158.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised its target price for Impinj (NASDAQ:PI) from $133.00 to $158.00, indicating a potential upside of 1.72% from its previous close.
• Impinj reported earnings that exceeded analysts' expectations, with an EPS of $0.80 compared to a consensus estimate of $0.72, despite a year-over-year revenue decline of 4.5%.
• The company currently holds a consensus rating of "Moderate Buy" and has received upgraded price targets from several analysts, with an average target of $157.57.

Impinj (NASDAQ:PI - Free Report) had its price target lifted by Cantor Fitzgerald from $133.00 to $158.00 in a report published on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on the stock. Susquehanna raised their price target on shares of Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Piper Sandler raised their price target on shares of Impinj from $100.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Evercore ISI raised their price target on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC raised their price target on shares of Impinj from $115.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Impinj has a consensus rating of "Moderate Buy" and an average target price of $163.29.

Impinj Price Performance

Shares of PI stock traded down $1.66 during mid-day trading on Thursday, hitting $152.92. 1,027,589 shares of the stock were exchanged, compared to its average volume of 564,778. The firm has a fifty day moving average of $115.52 and a 200 day moving average of $105.13. The company has a quick ratio of 7.46, a current ratio of 11.64 and a debt-to-equity ratio of 1.51. Impinj has a 52-week low of $60.85 and a 52-week high of $239.88. The company has a market cap of $4.45 billion, a PE ratio of 15,307.31 and a beta of 1.74.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.08. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The business had revenue of $97.89 million for the quarter, compared to analyst estimates of $93.78 million. During the same period in the prior year, the company posted $0.83 EPS. The company's revenue for the quarter was down 4.5% on a year-over-year basis. Research analysts anticipate that Impinj will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Impinj during the 2nd quarter worth approximately $28,000. Canada Pension Plan Investment Board acquired a new stake in shares of Impinj during the 4th quarter worth approximately $29,000. Banque Transatlantique SA acquired a new stake in shares of Impinj during the 1st quarter worth approximately $29,000. Harbour Investments Inc. acquired a new stake in shares of Impinj during the 2nd quarter worth approximately $33,000. Finally, SBI Securities Co. Ltd. increased its holdings in Impinj by 75.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the company's stock valued at $36,000 after purchasing an additional 171 shares during the last quarter.

Impinj Company Profile

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.