Canaccord Genuity reiterated their buy rating on shares of IMPINJ Inc (NYSE:PI) in a research report report published on Thursday morning. They currently have a $35.00 target price on the stock, down from their previous target price of $50.00.
Several other brokerages have also recently commented on PI. Royal Bank Of Canada reiterated an outperform rating on shares of IMPINJ in a report on Saturday, July 22nd. Zacks Investment Research cut IMPINJ from a hold rating to a sell rating in a report on Wednesday, July 19th. Needham & Company LLC upped their target price on IMPINJ from $40.00 to $55.00 and gave the company a buy rating in a report on Wednesday, July 26th. BidaskClub raised IMPINJ from a buy rating to a strong-buy rating in a research note on Tuesday, October 3rd. Finally, Dougherty & Co reissued a buy rating and issued a $62.00 price target on shares of IMPINJ in a research note on Thursday, September 14th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $36.67.
IMPINJ (PI) traded up $0.68 during trading on Thursday, reaching $22.23. The company’s stock had a trading volume of 1,682,253 shares, compared to its average volume of 672,832. IMPINJ has a 1 year low of $19.97 and a 1 year high of $60.85.
IMPINJ (NYSE:PI) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). The firm had revenue of $32.60 million for the quarter, compared to the consensus estimate of $32.58 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share.
ILLEGAL ACTIVITY NOTICE: This story was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.com-unik.info/2017/11/05/impinj-inc-pi-earns-buy-rating-from-canaccord-genuity.html.
In other news, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.00, for a total transaction of $342,000.00. Following the transaction, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric Brodersen sold 3,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $35.74, for a total value of $125,090.00. Following the sale, the chief operating officer now owns 101,443 shares of the company’s stock, valued at approximately $3,625,572.82. The disclosure for this sale can be found here. Insiders have sold 37,000 shares of company stock worth $1,392,420 over the last ninety days.
Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its holdings in IMPINJ by 1,261.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after buying an additional 1,942 shares in the last quarter. American International Group Inc. bought a new stake in IMPINJ during the first quarter worth $112,000. Turner Investments LLC bought a new stake in IMPINJ during the second quarter worth $146,000. PNC Financial Services Group Inc. grew its holdings in IMPINJ by 95.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock worth $176,000 after buying an additional 1,765 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in IMPINJ during the second quarter worth $178,000.
IMPINJ Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
What are top analysts saying about IMPINJ Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for IMPINJ Inc and related companies.