Susquehanna Boosts Impinj (NASDAQ:PI) Price Target to $140.00

Impinj (NASDAQ:PI - Get Free Report) had its target price boosted by stock analysts at Susquehanna from $130.00 to $140.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "positive" rating on the stock. Susquehanna's target price would indicate a potential upside of 18.40% from the stock's current price.

Several other brokerages also recently issued reports on PI. 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. Cantor Fitzgerald restated an "overweight" rating and set a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. Piper Sandler restated an "overweight" rating and set a $100.00 price target on shares of Impinj in a report on Thursday, June 12th. Finally, Needham & Company LLC cut their price target on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Impinj presently has an average rating of "Moderate Buy" and an average target price of $150.38.

Impinj Stock Performance

Shares of Impinj stock traded up $5.01 during trading on Tuesday, hitting $118.24. 519,060 shares of the company's stock traded hands, compared to its average volume of 595,972. The stock has a market capitalization of $3.43 billion, a P/E ratio of -2,955.26 and a beta of 1.64. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46. The business has a 50-day simple moving average of $113.81 and a 200-day simple moving average of $105.94. Impinj has a 1 year low of $60.85 and a 1 year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 EPS for the quarter, topping 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 the consensus estimate of $71.73 million. During the same quarter last year, the company earned $0.21 earnings per share. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, analysts forecast that Impinj will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new stake in Impinj during the 4th quarter valued at approximately $29,000. Banque Transatlantique SA purchased a new stake in shares of Impinj in the first quarter worth about $29,000. SBI Securities Co. Ltd. boosted its stake in shares of Impinj by 75.3% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the company's stock worth $36,000 after buying an additional 171 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Impinj in the first quarter worth about $43,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Impinj in the second quarter worth about $43,000.

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.