Piper Sandler Issues Positive Forecast for Impinj (NASDAQ:PI) Stock Price

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Impinj (NASDAQ:PI - Get Free Report) had its price target hoisted by equities research analysts at Piper Sandler from $140.00 to $180.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective indicates a potential upside of 13.51% from the company's current price.

Several other analysts also recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday. Cantor Fitzgerald increased their price target on shares of Impinj from $133.00 to $158.00 and gave the company an "overweight" rating in a research report on Thursday. Susquehanna increased their price objective on Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. Finally, Evercore ISI increased their price objective on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $163.29.

Impinj Stock Up 29.8%

Impinj stock traded up $36.37 during midday trading on Thursday, reaching $158.58. The stock had a trading volume of 891,565 shares, compared to its average volume of 633,936. 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 has a 12 month low of $60.85 and a 12 month high of $239.88. The company has a market capitalization of $4.60 billion, a P/E ratio of -3,966.26 and a beta of 1.64. The company has a fifty day moving average price of $113.91 and a two-hundred day moving average price of $105.04.

Impinj (NASDAQ:PI - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.08. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The business had revenue of $97.89 million during the quarter, compared to analyst estimates of $93.78 million. During the same quarter in the previous year, the firm earned $0.83 EPS. Impinj's revenue was down 4.5% on a year-over-year basis. As a group, equities analysts expect that Impinj will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Impinj

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Impinj by 6.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock worth $238,000 after purchasing an additional 106 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Impinj by 39.9% in the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock worth $45,000 after buying an additional 140 shares during the period. Cynosure Group LLC lifted its position in Impinj by 7.8% during the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock valued at $284,000 after buying an additional 142 shares during the period. Versant Capital Management Inc increased its stake in Impinj by 7.2% during the 1st quarter. Versant Capital Management Inc now owns 2,237 shares of the company's stock valued at $203,000 after purchasing an additional 150 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in Impinj by 2.5% during the second quarter. Maryland State Retirement & Pension System now owns 6,899 shares of the company's stock valued at $766,000 after purchasing an additional 167 shares during the period.

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.

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