IMPINJ Inc (NYSE:PI)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Wednesday. They presently have a $32.00 price objective on the stock. Needham & Company LLC’s target price points to a potential downside of 8.34% from the company’s current price.
Other research analysts also recently issued reports about the company. Pacific Crest restated a “buy” rating and set a $36.00 price objective on shares of IMPINJ in a research note on Friday, November 4th. Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, November 2nd. RBC Capital Markets restated an “outperform” rating and set a $37.00 price objective on shares of IMPINJ in a research note on Wednesday, December 7th. Finally, KeyCorp upped their price objective on IMPINJ from $29.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, September 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. IMPINJ has a consensus rating of “Buy” and a consensus target price of $31.63.
Shares of IMPINJ (NYSE:PI) traded down 5.07% on Wednesday, hitting $33.14. The stock had a trading volume of 742,967 shares. The company’s 50-day moving average price is $32.69 and its 200 day moving average price is $28.85. IMPINJ has a 12-month low of $16.36 and a 12-month high of $41.91. The firm’s market cap is $590.22 million.
IMPINJ (NYSE:PI) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.04. The company had revenue of $31 million for the quarter, compared to the consensus estimate of $28.39 million. The business’s quarterly revenue was up 49.8% on a year-over-year basis. On average, equities research analysts forecast that IMPINJ will post $0.20 earnings per share for the current fiscal year.
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In other news, CEO Chris Ph.D. Diorio sold 80,000 shares of the company’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $27.00, for a total value of $2,160,000.00. Following the completion of the sale, the chief executive officer now owns 308,312 shares in the company, valued at $8,324,424. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN purchased a new stake in shares of IMPINJ during the third quarter valued at $141,000. Morgan Stanley purchased a new stake in shares of IMPINJ during the third quarter valued at $210,000. Teachers Advisors LLC purchased a new stake in shares of IMPINJ during the third quarter valued at $222,000. Brighton Jones LLC purchased a new stake in shares of IMPINJ during the third quarter valued at $233,000. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of IMPINJ during the third quarter valued at $267,000.
Impinj, Inc is a United States-based provider of referral and information network (RAIN) radio frequency identification (RFID) solutions that provide Item Intelligence in retail, pharmaceutical, healthcare, food and beverage, and manufacturing and supply chain logistics. The Company offers a platform, Impinj that uses RAIN RFID, wirelessly connecting and networking everyday items, including inventory and assets, to software applications, such as enterprise resource planning systems and management systems.
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