Impinj - PI Stock Forecast, Price & News

Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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. Its platform also consists of systems products that comprise reader ICs, readers, and gateways to wirelessly provide power to and communicate bidirectionally with endpoint ICs on host items, as well as to read, write, authenticate, and engage the endpoint ICs on those items; and software and algorithms that enables its partners to deliver use cases, such as retail self-checkout and loss prevention, and warehouse pallet and carton tracking to end-users. The company primarily serves retail, supply chain and logistics, aviation, automotive, healthcare, industrial and manufacturing, sports, food, datacenter, travel, banking, and linen and uniform tracking sectors through distributors, system integrators, value-added resellers, and software solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.

Impinj Stock Up 1.1 %

Shares of NASDAQ:PI traded up $1.05 during trading on Thursday, hitting $94.15. 9,124 shares of the company's stock were exchanged, compared to its average volume of 392,638. The firm has a 50-day moving average price of $64.86 and a two-hundred day moving average price of $61.32. Impinj has a 1-year low of $39.74 and a 1-year high of $96.95.

Impinj (NASDAQ:PI - Get Rating) last released its earnings results on Wednesday, July 27th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.13. Impinj had a negative net margin of 26.07% and a negative return on equity of 236.49%. The firm had revenue of $59.80 million during the quarter, compared to analyst estimates of $55.12 million. During the same quarter in the previous year, the business earned ($0.33) EPS. The business's quarterly revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts forecast that Impinj will post -0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Impinj from $78.00 to $89.00 and gave the stock a "buy" rating in a report on Thursday, July 28th. Lake Street Capital raised their price target on shares of Impinj from $87.00 to $94.00 in a research report on Thursday, July 28th. Needham & Company LLC raised their price target on Impinj from $96.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 28th. Piper Sandler increased their target price on Impinj from $80.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, July 28th. Finally, Roth Capital cut their price objective on Impinj from $95.00 to $76.00 in a research report on Thursday, April 28th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.80.

Insider Activity

In related news, Director Cathal G. Phelan sold 20,000 shares of the company's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $82.15, for a total value of $1,643,000.00. Following the transaction, the director now directly owns 15,073 shares in the company, valued at $1,238,246.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Hussein Mecklai sold 435 shares of the business's stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $64.46, for a total transaction of $28,040.10. Following the completion of the transaction, the chief operating officer now owns 39,625 shares of the company's stock, valued at $2,554,227.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cathal G. Phelan sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $82.15, for a total transaction of $1,643,000.00. Following the completion of the sale, the director now directly owns 15,073 shares in the company, valued at $1,238,246.95. The disclosure for this sale can be found here. Insiders have sold 74,474 shares of company stock worth $5,959,613 in the last 90 days. Corporate insiders own 20.20% of the company's stock.