Impinj (NASDAQ:PI) Price Target Raised to $140.00

Impinj (NASDAQ:PI - Free Report) had its target price lifted by Piper Sandler from $100.00 to $140.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

PI has been the topic of a number of other research reports. Evercore ISI increased 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. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research report on Thursday, April 24th. Needham & Company LLC decreased their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Susquehanna lifted their price objective on Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Impinj has a consensus rating of "Moderate Buy" and an average target price of $146.86.

Impinj Stock Performance

Shares of NASDAQ PI traded up $3.45 during trading on Wednesday, reaching $124.25. 526,488 shares of the company traded hands, compared to its average volume of 416,338. The firm's fifty day simple moving average is $113.77 and its 200 day simple moving average is $105.24. The stock has a market cap of $3.60 billion, a P/E ratio of -3,105.47 and a beta of 1.64. Impinj has a 12-month low of $60.85 and a 12-month high of $239.88. The company has a current ratio of 10.96, a quick ratio of 7.46 and a debt-to-equity ratio of 1.77.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. The business had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The business's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. As a group, research analysts anticipate that Impinj will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in Impinj in the 4th quarter valued at about $29,000. Banque Transatlantique SA bought a new stake in Impinj in the 1st quarter valued at about $29,000. SBI Securities Co. Ltd. lifted its holdings in shares of Impinj by 75.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the company's stock worth $36,000 after acquiring an additional 171 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Impinj during the 1st quarter worth approximately $43,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Impinj during the 2nd quarter worth approximately $43,000.

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.