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 Performance

Shares of NASDAQ:PI opened at $95.17 on Monday. Impinj has a fifty-two week low of $39.74 and a fifty-two week high of $96.95. The company has a 50 day simple moving average of $62.18 and a two-hundred day simple moving average of $60.81. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -43.06 and a beta of 2.24.

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Impinj from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Thursday, July 28th. Lake Street Capital boosted their price target on shares of Impinj from $87.00 to $94.00 in a research note on Thursday, July 28th. Piper Sandler boosted their price target on shares of Impinj from $80.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, July 28th. Roth Capital lowered their price target on shares of Impinj from $95.00 to $76.00 in a research note on Thursday, April 28th. Finally, Needham & Company LLC boosted their price target on shares of Impinj from $96.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat, Impinj presently has an average rating of "Moderate Buy" and an average price target of $93.80.

Insider Activity at Impinj

In related news, CFO Cary Baker sold 1,458 shares of the firm's stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $43.24, for a total transaction of $63,043.92. Following the completion of the sale, the chief financial officer now owns 36,666 shares of the company's stock, valued at $1,585,437.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Cary Baker sold 1,458 shares of the firm's stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $43.24, for a total value of $63,043.92. Following the sale, the chief financial officer now owns 36,666 shares in the company, valued at $1,585,437.84. The sale 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 the firm's stock in a transaction that occurred on 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 sale, the chief operating officer now owns 39,625 shares in the company, valued at approximately $2,554,227.50. The disclosure for this sale can be found here. Insiders sold 74,474 shares of company stock valued at $5,959,613 over the last 90 days. Corporate insiders own 20.20% of the company's stock.