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

Impinj, Inc. (NASDAQ:PI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $155.38.

A number of analysts have recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Piper Sandler restated an "overweight" rating and issued a $100.00 target price on shares of Impinj in a research report on Thursday, June 12th. Evercore ISI upped their price objective on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently bought and sold shares of PI. Victory Capital Management Inc. lifted its position in Impinj by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company's stock worth $3,025,000 after buying an additional 1,363 shares in the last quarter. Norges Bank bought a new position in Impinj in the 4th quarter worth $40,100,000. Jones Financial Companies Lllp increased its stake in shares of Impinj by 205.9% in the fourth quarter. Jones Financial Companies Lllp now owns 260 shares of the company's stock worth $38,000 after purchasing an additional 175 shares during the period. Royce & Associates LP increased its position in Impinj by 5.3% in the 4th quarter. Royce & Associates LP now owns 208,864 shares of the company's stock worth $30,340,000 after buying an additional 10,594 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Impinj by 10.3% during the 4th quarter. Bank of Montreal Can now owns 2,781 shares of the company's stock worth $404,000 after purchasing an additional 260 shares during the period.

Impinj Stock Performance

Shares of PI traded up $5.11 during midday trading on Friday, hitting $117.70. 96,665 shares of the stock traded hands, compared to its average volume of 593,679. The company has a debt-to-equity ratio of 1.77, a quick ratio of 7.46 and a current ratio of 10.96. The business's 50 day moving average price is $110.36 and its two-hundred day moving average price is $107.99. The firm has a market capitalization of $3.41 billion, a PE ratio of -2,941.76 and a beta of 1.64. Impinj has a 1-year low of $60.85 and a 1-year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. The firm had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. Impinj's revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 EPS. Equities 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.