Impinj’s (PI) “Outperform” Rating Reiterated at Evercore ISI

Evercore ISI reissued their outperform rating on shares of Impinj (NASDAQ:PI) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $270.00 price objective on the stock, up from their prior price objective of $205.00.

A number of other equities research analysts have also recently commented on the stock. Roth Mkm raised their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna upped their target price on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday, October 21st. Lake Street Capital raised their price target on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Piper Sandler restated an “overweight” rating and issued a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Impinj Price Performance

Shares of PI stock opened at $200.70 on Thursday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80. Impinj has a 1 year low of $58.56 and a 1 year high of $239.88. The firm has a fifty day moving average price of $196.40 and a 200-day moving average price of $169.26.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the previous year, the company posted ($0.36) earnings per share. Impinj’s revenue for the quarter was up 46.5% on a year-over-year basis. Equities research analysts expect that Impinj will post 0.31 EPS for the current year.

Insider Activity

In related news, CRO Jeffrey Dossett sold 488 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the sale, the executive now owns 65,294 shares in the company, valued at approximately $15,529,524.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Impinj news, CRO Jeffrey Dossett sold 488 shares of Impinj stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the completion of the transaction, the executive now directly owns 65,294 shares of the company’s stock, valued at $15,529,524.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 366 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now owns 71,096 shares in the company, valued at $16,908,761.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,779 shares of company stock worth $3,825,046. 51.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Impinj

Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new stake in Impinj during the 2nd quarter valued at $103,252,000. Jennison Associates LLC purchased a new stake in shares of Impinj in the first quarter valued at $25,747,000. Renaissance Technologies LLC bought a new stake in shares of Impinj in the 2nd quarter worth about $30,116,000. TimesSquare Capital Management LLC purchased a new position in shares of Impinj during the 1st quarter worth about $19,195,000. Finally, Lord Abbett & CO. LLC bought a new position in Impinj during the 1st quarter valued at about $9,659,000.

About Impinj

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.