Impinj, Inc. (NASDAQ:PI) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Impinj, Inc. has received a consensus rating of "Moderate Buy" from analysts, with six out of seven recommending a buy and an average 12-month price target of $146.86.
• The company's latest quarterly results showed $0.80 EPS, surpassing estimates, but revenue declined by 4.5% year-over-year, totaling $97.89 million.
• Significant institutional activity includes Sylebra Capital and Vanguard Group increasing their stakes, reflecting growing investor interest in Impinj's stock.

Impinj, Inc. (NASDAQ:PI - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $163.29.

Several equities research analysts have commented on PI shares. Susquehanna boosted their target price on Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a report on Tuesday, July 22nd. Piper Sandler lifted their price target on Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday. Needham & Company LLC upped their price target on shares of Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday. Cantor Fitzgerald raised their price objective on shares of Impinj from $133.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Evercore ISI upped their target price on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS bought a new stake in shares of Impinj during the 4th quarter valued at about $683,000. Vanguard Group Inc. boosted its holdings in shares of Impinj by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after buying an additional 104,861 shares during the last quarter. Norges Bank bought a new stake in Impinj during the fourth quarter valued at approximately $40,100,000. Pictet Asset Management Holding SA increased its holdings in Impinj by 15.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,288 shares of the company's stock valued at $478,000 after buying an additional 432 shares during the last quarter. Finally, DnB Asset Management AS increased its holdings in Impinj by 220.8% during the fourth quarter. DnB Asset Management AS now owns 3,936 shares of the company's stock valued at $572,000 after buying an additional 2,709 shares during the last quarter.

Impinj Stock Down 1.1%

PI traded down $1.66 on Thursday, hitting $152.92. The company had a trading volume of 1,027,589 shares, compared to its average volume of 564,778. The company has a debt-to-equity ratio of 1.51, a current ratio of 11.64 and a quick ratio of 7.46. Impinj has a 52-week low of $60.85 and a 52-week high of $239.88. The firm has a market capitalization of $4.45 billion, a P/E ratio of 15,307.31 and a beta of 1.74. The stock has a fifty day simple moving average of $115.52 and a 200-day simple moving average of $104.91.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The business had revenue of $97.89 million for the quarter, compared to analyst estimates of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. Impinj's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 earnings per share. As a group, equities analysts expect 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.