Cantor Fitzgerald Increases Earnings Estimates for Impinj

Impinj, Inc. (NASDAQ:PI - Free Report) - Analysts at Cantor Fitzgerald raised their FY2025 earnings estimates for Impinj in a note issued to investors on Thursday, April 24th. Cantor Fitzgerald analyst T. Jensen now forecasts that the company will earn ($0.19) per share for the year, up from their prior forecast of ($0.90). Cantor Fitzgerald has a "Overweight" rating and a $133.00 price target on the stock. The consensus estimate for Impinj's current full-year earnings is ($0.47) per share.

Other equities analysts have also issued reports about the stock. Evercore ISI increased their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Needham & Company LLC decreased their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Susquehanna cut their target price on Impinj from $260.00 to $220.00 and set a "positive" rating on the stock in a research report on Wednesday, January 22nd. StockNews.com cut Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group dropped their price target on Impinj from $200.00 to $132.00 and set a "neutral" rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $160.33.

Impinj Stock Performance

NASDAQ:PI traded up $2.44 during mid-day trading on Monday, hitting $92.13. 768,728 shares of the company's stock traded hands, compared to its average volume of 587,270. The company has a market capitalization of $2.67 billion, a P/E ratio of 67.74 and a beta of 1.74. The company has a fifty day moving average of $84.74 and a 200 day moving average of $135.12. Impinj has a twelve month low of $60.85 and a twelve month high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company had revenue of $74.28 million during the quarter, compared to analysts' expectations of $71.73 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. Impinj's revenue for the quarter was down 3.3% compared to the same quarter last year.

Insider Activity

In related news, insider Cathal G. Phelan sold 565 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.77, for a total transaction of $55,805.05. Following the completion of the sale, the insider now directly owns 7,925 shares in the company, valued at approximately $782,752.25. The trade was a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.81, for a total value of $369,450.59. Following the completion of the transaction, the chief operating officer now owns 70,347 shares in the company, valued at $6,950,987.07. The trade was a 5.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,857 shares of company stock valued at $1,665,290 in the last three months. 51.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Impinj

Large investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. boosted its holdings in Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock worth $3,586,000 after acquiring an additional 95 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after purchasing an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock valued at $238,000 after purchasing an additional 106 shares during the period. Cynosure Group LLC grew its holdings in Impinj by 7.8% during the 4th quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock valued at $284,000 after purchasing an additional 142 shares in the last quarter. Finally, 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 worth $203,000 after buying an additional 150 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.