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

Key Points

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Impinj (NASDAQ:PI - Free Report) had its price objective increased by Piper Sandler from $140.00 to $180.00 in a report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also weighed in on PI. Cantor Fitzgerald upped their price objective on Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a research report on Thursday. Evercore ISI boosted their target price on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Needham & Company LLC increased their price target on Impinj from $115.00 to $165.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Susquehanna boosted their price objective on Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a research report on Tuesday, July 22nd. One 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.29.

Impinj Trading Up 7.3%

Impinj stock traded up $11.13 during midday trading on Thursday, reaching $164.05. 587,151 shares of the stock traded hands, compared to its average volume of 616,159. The company has a 50-day simple moving average of $115.52 and a two-hundred day simple moving average of $104.71. Impinj has a 12-month low of $60.85 and a 12-month high of $239.88. The firm has a market cap of $4.77 billion, a PE ratio of 16,421.42 and a beta of 1.74. The company has a current ratio of 11.64, a quick ratio of 8.44 and a debt-to-equity ratio of 1.51.

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, beating the consensus estimate of $0.72 by $0.08. The business had revenue of $97.89 million during 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%. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Research analysts expect that Impinj will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Impinj in the second quarter valued at about $28,000. Canada Pension Plan Investment Board purchased a new stake in Impinj during the 4th quarter valued at approximately $29,000. Banque Transatlantique SA acquired a new stake in Impinj during the 1st quarter worth approximately $29,000. Harbour Investments Inc. purchased a new position in shares of Impinj in the 2nd quarter valued at approximately $33,000. Finally, Quaker Wealth Management LLC increased its holdings in shares of Impinj by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 300 shares of the company's stock valued at $33,000 after purchasing an additional 600 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.