Impinj, Inc. (NASDAQ:PI) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) have earned an average rating of "Moderate Buy" from the eight research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $155.38.

PI has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. Needham & Company LLC dropped their price objective on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Piper Sandler cut their price objective on shares of Impinj from $140.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Evercore ISI lifted their target price on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th.

Impinj Price Performance

Shares of PI traded down $1.93 during midday trading on Wednesday, reaching $109.09. 41,782 shares of the stock were exchanged, compared to its average volume of 589,678. Impinj has a twelve month low of $60.85 and a twelve month high of $239.88. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 80.21 and a beta of 1.67. The business's 50-day moving average price is $97.45 and its 200 day moving average price is $116.33.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. The company had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm's revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, equities research analysts expect that Impinj will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Impinj

Hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in shares of Impinj in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in Impinj in the 4th quarter valued at about $33,000. Jones Financial Companies Lllp lifted its holdings in Impinj by 205.9% in the 4th quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock valued at $38,000 after purchasing an additional 175 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Impinj during the 1st quarter worth about $29,000. Finally, IFP Advisors Inc boosted its stake in shares of Impinj by 116.5% during the 4th quarter. IFP Advisors Inc now owns 368 shares of the company's stock worth $53,000 after purchasing an additional 198 shares during the last quarter.

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.