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

Impinj (NASDAQ:PI - Get Free Report) had its target price lifted by equities researchers at Susquehanna from $130.00 to $140.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "positive" rating on the stock. Susquehanna's price objective indicates a potential upside of 26.62% from the stock's current price.

Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald reiterated 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 lowered their price target on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Piper Sandler restated an "overweight" rating and set a $100.00 price objective on shares of Impinj in a research report on Thursday, June 12th. Finally, Evercore ISI lifted their target price on Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Impinj presently has a consensus rating of "Moderate Buy" and a consensus target price of $145.38.

Impinj Stock Performance

PI traded down $5.95 on Tuesday, hitting $110.57. 407,188 shares of the company's stock were exchanged, compared to its average volume of 598,644. The firm has a market cap of $3.20 billion, a PE ratio of -2,751.91 and a beta of 1.64. Impinj has a twelve month low of $60.85 and a twelve month high of $239.88. The stock has a fifty day moving average of $114.04 and a two-hundred day moving average of $105.80. 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 earnings results on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a positive return on equity of 6.45% and a negative net margin of 0.26%. The firm had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. During the same period last year, the firm earned $0.21 EPS. The firm's revenue was down 3.3% compared to the same quarter last year. On average, research analysts anticipate that Impinj will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV grew its holdings in shares of Impinj by 6.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock valued at $238,000 after buying an additional 106 shares during the period. Advisors Asset Management Inc. boosted its stake in Impinj by 39.9% in the 1st quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock worth $45,000 after purchasing an additional 140 shares during the period. Cynosure Group LLC boosted its stake in Impinj by 7.8% in the 4th quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock worth $284,000 after purchasing an additional 142 shares during the period. Versant Capital Management Inc boosted its stake in Impinj by 7.2% in the 1st quarter. Versant Capital Management Inc now owns 2,237 shares of the company's stock worth $203,000 after purchasing an additional 150 shares during the period. Finally, Xponance Inc. boosted its stake in Impinj by 10.5% in the 4th quarter. Xponance Inc. now owns 1,660 shares of the company's stock worth $241,000 after purchasing an additional 158 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.

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