IMPINJ (PI) Price Target Raised to $26.00

IMPINJ (NASDAQ:PI) had its target price lifted by equities researchers at Piper Jaffray Companies from $19.00 to $26.00 in a research note issued on Wednesday. The firm currently has an “overweight” rating on the stock. Piper Jaffray Companies’ target price points to a potential upside of 22.47% from the company’s current price.

A number of other research firms also recently issued reports on PI. Zacks Investment Research downgraded shares of IMPINJ from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. BidaskClub upgraded shares of IMPINJ from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, Canaccord Genuity upgraded shares of IMPINJ from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. IMPINJ has an average rating of “Hold” and a consensus price target of $27.00.

Shares of IMPINJ stock traded up $0.21 during trading hours on Wednesday, reaching $21.23. The company’s stock had a trading volume of 1,807 shares, compared to its average volume of 551,093. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.67 and a current ratio of 8.00. IMPINJ has a one year low of $9.95 and a one year high of $56.01. The company has a market cap of $463.72 million, a P/E ratio of -72.41 and a beta of 2.12.

IMPINJ (NASDAQ:PI) last posted its quarterly earnings results on Monday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.01). IMPINJ had a negative return on equity of 11.89% and a negative net margin of 24.95%. The business had revenue of $25.10 million during the quarter, compared to the consensus estimate of $23.95 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The company’s quarterly revenue was down 20.8% compared to the same quarter last year. sell-side analysts predict that IMPINJ will post -1.36 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. Sylebra HK Co Ltd raised its position in shares of IMPINJ by 32.8% during the 4th quarter. Sylebra HK Co Ltd now owns 3,899,063 shares of the company’s stock worth $87,846,000 after buying an additional 962,212 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in shares of IMPINJ during the 1st quarter worth about $6,207,000. Millennium Management LLC bought a new stake in shares of IMPINJ during the 1st quarter worth about $2,440,000. Barclays PLC raised its position in shares of IMPINJ by 3,684.4% during the 1st quarter. Barclays PLC now owns 109,332 shares of the company’s stock worth $1,424,000 after buying an additional 106,443 shares in the last quarter. Finally, Carillon Tower Advisers Inc. bought a new stake in shares of IMPINJ during the 1st quarter worth about $1,110,000. Hedge funds and other institutional investors own 71.27% of the company’s stock.

About IMPINJ

Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.

Analyst Recommendations for IMPINJ (NASDAQ:PI)

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