Impinj (NASDAQ:PI) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Key Points

• Needham & Company LLC has raised its price target for Impinj (NASDAQ:PI) from $115.00 to $165.00, indicating a potential upside of 35.01% from its previous close, and maintaining a "buy" rating on the stock.
• Multiple research firms have upgraded their ratings on Impinj, with an average price target now at $154.00 and a consensus rating of "Moderate Buy".
• Impinj recently reported earnings of $0.80 EPS, surpassing estimates, though its quarterly revenue decreased by 4.5% compared to the same period last year.

Impinj (NASDAQ:PI - Free Report) had its target price lifted by Needham & Company LLC from $115.00 to $165.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

PI has been the topic of several other research reports. Piper Sandler lifted their price target on Impinj from $100.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Evercore ISI increased their price target on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Susquehanna increased their price target on Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a research note on Tuesday, July 22nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 price target on shares of Impinj in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $163.29.

Impinj Stock Performance

NASDAQ PI traded down $1.66 during trading on Thursday, reaching $152.92. 1,027,589 shares of the company's stock were exchanged, compared to its average volume of 564,778. The business has a 50 day moving average price of $115.52 and a 200-day moving average price of $105.13. The stock has a market capitalization of $4.45 billion, a P/E ratio of 15,307.31 and a beta of 1.74. 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 fifty-two week low of $60.85 and a fifty-two week high of $239.88.

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

Institutional Trading of Impinj

Large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its holdings in Impinj by 7.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company's stock worth $741,000 after acquiring an additional 535 shares during the period. KBC Group NV grew its holdings in Impinj by 35.0% during the 1st quarter. KBC Group NV now owns 1,227 shares of the company's stock worth $111,000 after acquiring an additional 318 shares during the period. GAMMA Investing LLC grew its holdings in Impinj by 68.7% during the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company's stock worth $65,000 after acquiring an additional 294 shares during the period. Norges Bank acquired a new stake in Impinj during the 4th quarter worth about $40,100,000. Finally, Bank of Montreal Can grew its stake in shares of Impinj by 10.3% in the 4th quarter. Bank of Montreal Can now owns 2,781 shares of the company's stock valued at $404,000 after buying an additional 260 shares during the period.

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.