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 Price Performance

Shares of PI traded up $1.50 during midday trading on Wednesday, hitting $93.10. The stock had a trading volume of 290,106 shares, compared to its average volume of 332,736. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -42.25 and a beta of 2.24. The company has a 50 day simple moving average of $63.93 and a two-hundred day simple moving average of $61.10. Impinj has a twelve month low of $39.74 and a twelve month high of $96.95.

Impinj (NASDAQ:PI - Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.13. The company had revenue of $59.80 million during the quarter, compared to analysts' expectations of $55.12 million. Impinj had a negative return on equity of 236.49% and a negative net margin of 26.07%. Impinj's revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.33) EPS. Analysts forecast that Impinj will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PI has been the subject of several analyst reports. Needham & Company LLC lifted their price target on shares of Impinj from $96.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 28th. Roth Capital decreased their price objective on Impinj from $95.00 to $76.00 in a research report on Thursday, April 28th. Lake Street Capital increased their price objective on Impinj from $87.00 to $94.00 in a research report on Thursday, July 28th. Piper Sandler increased their price objective on Impinj from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, July 28th. Finally, The Goldman Sachs Group increased their price objective on Impinj from $78.00 to $89.00 and gave the company a "buy" rating in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat, Impinj has an average rating of "Moderate Buy" and a consensus target price of $93.80.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 646 shares of the firm's stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $47.93, for a total value of $30,962.78. Following the completion of the transaction, the chief executive officer now owns 314,714 shares in the company, valued at approximately $15,084,242.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Chris Ph.D. Diorio sold 646 shares of Impinj stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $47.93, for a total transaction of $30,962.78. Following the completion of the transaction, the chief executive officer now owns 314,714 shares in the company, valued at $15,084,242.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Hussein Mecklai sold 435 shares of Impinj stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $64.46, for a total value of $28,040.10. Following the transaction, the chief operating officer now owns 39,625 shares of the company's stock, valued at approximately $2,554,227.50. The disclosure for this sale can be found here. Insiders sold 74,474 shares of company stock worth $5,959,613 in the last quarter. Corporate insiders own 20.20% of the company's stock.