Impinj (NASDAQ:PI) Given "Overweight" Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Impinj (NASDAQ:PI - Free Report) in a research report report published on Thursday morning,Benzinga reports. Piper Sandler currently has a $100.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC lowered their price target on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI raised their price target on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $133.00 target price on shares of Impinj in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $155.38.

Impinj Trading Down 1.9%

NASDAQ PI traded down $2.12 during trading on Thursday, hitting $108.90. 269,983 shares of the company traded hands, compared to its average volume of 591,037. Impinj has a 12 month low of $60.85 and a 12 month high of $239.88. The business has a fifty day simple moving average of $97.45 and a 200 day simple moving average of $116.33. The company has a market capitalization of $3.16 billion, a P/E ratio of 80.07 and a beta of 1.67.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. The company had revenue of $74.28 million for the quarter, compared to the consensus estimate of $71.73 million. Impinj had a return on equity of 7.11% and a net margin of 11.15%. The firm's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. Equities research analysts predict that Impinj will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board bought a new position in Impinj during the fourth quarter worth about $29,000. Banque Transatlantique SA bought a new position in Impinj during the first quarter worth about $29,000. SBI Securities Co. Ltd. bought a new position in Impinj during the fourth quarter worth about $33,000. Jones Financial Companies Lllp lifted its stake in Impinj by 205.9% during 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. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Impinj during the first quarter worth about $43,000.

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.