Analysts Set Impinj, Inc. (NASDAQ:PI) Price Target at $224.60

Shares of Impinj, Inc. (NASDAQ:PI) have received an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $224.60.

PI has been the subject of several recent analyst reports. Cantor Fitzgerald boosted their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Roth Mkm boosted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Needham & Company LLC upped their price objective on Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research report on Thursday, October 24th. Finally, Evercore ISI reiterated an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a research report on Thursday, October 24th.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the sale, the chief financial officer now owns 70,524 shares in the company, valued at $14,751,505.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the completion of the transaction, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was 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 approximately $15,529,524.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,284 shares of company stock worth $19,783,007 over the last quarter. 51.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently made changes to their positions in PI. Farther Finance Advisors LLC boosted its stake in Impinj by 1,084.6% during the third quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after buying an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Impinj during the third quarter valued at approximately $54,000. SouthState Corp bought a new position in Impinj during the second quarter valued at approximately $94,000. nVerses Capital LLC boosted its stake in Impinj by 75.0% during the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after buying an additional 300 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. boosted its stake in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the last quarter.

Impinj Trading Down 0.9 %

Impinj stock opened at $189.99 on Tuesday. The business’s fifty day simple moving average is $199.27 and its two-hundred day simple moving average is $171.00. Impinj has a 12 month low of $59.64 and a 12 month high of $239.88. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -542.83 and a beta of 1.80.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same period in the previous year, the company posted ($0.36) earnings per share. The company’s revenue for the quarter was up 46.5% compared to the same quarter last year. On average, equities research analysts predict that Impinj will post 0.35 EPS for the current year.

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.