Impinj, Inc. (NASDAQ:PI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Impinj, Inc. (NASDAQ:PI) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $146.86.

A number of research analysts recently issued reports on the stock. Evercore ISI boosted their target price on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Needham & Company LLC reduced their price objective on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. Susquehanna lifted their price target on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Finally, Piper Sandler boosted their price target on Impinj from $100.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd.

Impinj Trading Down 0.5%

Impinj stock opened at $122.21 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 7.46 and a current ratio of 10.96. The stock has a market cap of $3.54 billion, a PE ratio of -3,054.49 and a beta of 1.64. The stock has a 50-day moving average of $113.91 and a two-hundred day moving average of $105.04. Impinj has a one year low of $60.85 and a one year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $97.89 million for the quarter, compared to analyst estimates of $93.78 million. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. Impinj’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. On average, research analysts anticipate that Impinj will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sylebra Capital LLC boosted its position in shares of Impinj by 8.6% during the fourth quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock worth $504,360,000 after buying an additional 274,764 shares during the period. Vanguard Group Inc. lifted its stake in Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock worth $500,009,000 after acquiring an additional 104,861 shares in the last quarter. Capital International Investors boosted its holdings in Impinj by 45.0% during the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after acquiring an additional 473,721 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Impinj by 304.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 972,260 shares of the company’s stock valued at $88,184,000 after acquiring an additional 731,817 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its stake in Impinj by 1.1% during the second quarter. Chevy Chase Trust Holdings LLC now owns 740,081 shares of the company’s stock worth $82,201,000 after purchasing an additional 8,126 shares during the period.

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.