Impinj (NASDAQ:PI) Receives Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Impinj (NASDAQ:PI) in a research note published on Thursday morning,Benzinga reports. Piper Sandler currently has a $100.00 price objective on the stock.

Several other research analysts have also issued reports on PI. Cantor Fitzgerald restated an “overweight” rating and issued a $133.00 price target on shares of Impinj in a research report on Thursday, April 24th. Evercore ISI lifted their price target on shares of Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Needham & Company LLC decreased their price target on shares of Impinj from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.38.

Impinj Stock Performance

Impinj stock opened at $108.90 on Thursday. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 80.07 and a beta of 1.67. Impinj has a 1 year low of $60.85 and a 1 year high of $239.88. The firm’s 50 day moving average price is $97.45 and its two-hundred day moving average price is $116.33.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.12. The firm had revenue of $74.28 million for the quarter, compared to analyst estimates of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 earnings per share. As a group, equities analysts predict that Impinj will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its stake in shares of Impinj by 85.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 1,178 shares of the company’s stock valued at $174,000 after buying an additional 542 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Impinj by 92.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 140,812 shares of the company’s stock valued at $20,454,000 after buying an additional 67,510 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Impinj by 7.0% during the 4th quarter. Victory Capital Management Inc. now owns 20,825 shares of the company’s stock valued at $3,025,000 after buying an additional 1,363 shares during the period. Norges Bank acquired a new stake in shares of Impinj during the 4th quarter valued at $40,100,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Impinj during the 4th quarter valued at $1,625,000.

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.