Impinj, Inc. (NASDAQ:PI) Receives Consensus Recommendation of “Buy” from Analysts

Impinj, Inc. (NASDAQ:PIGet Rating) has been assigned an average rating of “Buy” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and seven 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 $87.73.

A number of equities analysts have recently issued reports on PI shares. Lake Street Capital cut their price objective on Impinj from $100.00 to $87.00 in a report on Thursday, April 28th. Roth Capital decreased their target price on Impinj from $95.00 to $76.00 in a research report on Thursday, April 28th. The Goldman Sachs Group decreased their target price on Impinj from $102.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, March 28th. StockNews.com started coverage on Impinj in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, Zacks Investment Research raised Impinj from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Thursday, May 5th.

Shares of Impinj stock opened at $49.93 on Tuesday. Impinj has a 52 week low of $39.69 and a 52 week high of $94.39. The stock has a 50 day moving average price of $50.16 and a two-hundred day moving average price of $66.78. The stock has a market capitalization of $1.27 billion, a PE ratio of -23.44 and a beta of 2.40.

Impinj (NASDAQ:PIGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.58. Impinj had a negative return on equity of 89.38% and a negative net margin of 26.39%. During the same period in the previous year, the firm earned ($0.30) earnings per share. As a group, analysts expect that Impinj will post -1.48 earnings per share for the current fiscal year.

In related news, CFO Cary Baker sold 1,448 shares of Impinj stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $52.38, for a total value of $75,846.24. Following the completion of the transaction, the chief financial officer now owns 34,374 shares in the company, valued at $1,800,510.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Hussein Mecklai sold 473 shares of Impinj stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $60.68, for a total value of $28,701.64. The disclosure for this sale can be found here. Insiders sold 15,737 shares of company stock worth $837,764 over the last ninety days. Insiders own 20.20% of the company’s stock.

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new position in shares of Impinj during the first quarter valued at approximately $39,000. Future Financial Wealth Managment LLC purchased a new position in shares of Impinj during the fourth quarter valued at approximately $44,000. Quantbot Technologies LP purchased a new stake in shares of Impinj in the first quarter valued at approximately $101,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Impinj by 49.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock valued at $138,000 after purchasing an additional 722 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Impinj by 35.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,434 shares of the company’s stock valued at $155,000 after purchasing an additional 643 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

Impinj Company Profile (Get Rating)

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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Analyst Recommendations for Impinj (NASDAQ:PI)

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