Analysts Set Impinj, Inc. (NASDAQ:PI) Target Price at $187.10

Impinj, Inc. (NASDAQ:PI) has received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $187.10.

Several equities analysts recently commented on PI shares. Lake Street Capital upped their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group began coverage on shares of Impinj in a research note on Monday, May 13th. They set a “buy” rating and a $200.00 price objective for the company. Evercore ISI raised their target price on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Roth Mkm upped their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $205.00 price target on shares of Impinj in a research note on Thursday, July 25th.

Impinj Price Performance

Shares of NASDAQ PI opened at $162.93 on Thursday. The company has a market cap of $4.58 billion, a PE ratio of -465.51 and a beta of 1.78. The company has a 50-day simple moving average of $156.87 and a 200-day simple moving average of $141.06. Impinj has a 12 month low of $48.39 and a 12 month high of $181.88.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The firm had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same period in the previous year, the company earned ($0.14) EPS. Impinj’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts anticipate that Impinj will post 0.31 EPS for the current year.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $146.49, for a total transaction of $732,450.00. Following the completion of the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at approximately $41,929,832.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total transaction of $732,450.00. Following the sale, the chief executive officer now directly owns 286,230 shares in the company, valued at approximately $41,929,832.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the transaction, the executive now owns 63,642 shares of the company’s stock, valued at approximately $10,043,344.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,049,127 shares of company stock valued at $160,695,658. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Impinj by 2.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after acquiring an additional 115 shares in the last quarter. Wealth Effects LLC boosted its holdings in Impinj by 1.0% in the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after purchasing an additional 150 shares during the last quarter. Hsbc Holdings PLC grew its stake in Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after purchasing an additional 190 shares in the last quarter. Rhumbline Advisers increased its holdings in Impinj by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock worth $5,158,000 after purchasing an additional 248 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Impinj in the 1st quarter valued at approximately $32,000.

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.