Impinj (NASDAQ:PI) Stock Rating Reaffirmed by Evercore ISI

Impinj (NASDAQ:PI)‘s stock had its “outperform” rating reiterated by Evercore ISI in a research note issued to investors on Thursday, Benzinga reports. They presently have a $270.00 price target on the stock, up from their previous price target of $205.00. Evercore ISI’s price objective suggests a potential upside of 34.53% from the stock’s previous close.

A number of other research firms have also recently issued reports on PI. Lake Street Capital upped their price objective on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler reissued an “overweight” rating and set a $235.00 price target (up from $225.00) on shares of Impinj in a research note on Thursday. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued 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 assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $224.60.

Impinj Trading Up 4.4 %

PI stock opened at $200.70 on Thursday. The company’s 50 day moving average is $196.40 and its 200 day moving average is $168.96. The stock 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.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The firm had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter last year, the company posted ($0.36) EPS. The business’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, sell-side analysts forecast that Impinj will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the sale, the chief financial officer now owns 71,096 shares of the company’s stock, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Impinj news, CRO Jeffrey Dossett sold 488 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92. Following the transaction, the executive now owns 65,294 shares in the company, valued at approximately $15,529,524.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the transaction, the chief financial officer now owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock valued at $3,825,046 in the last 90 days. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the first quarter valued at approximately $32,000. SouthState Corp bought a new stake in shares of Impinj in the 2nd quarter worth approximately $94,000. nVerses Capital LLC grew its stake in shares of Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after buying an additional 300 shares during the last quarter. Jamison Private Wealth Management Inc. increased its position in Impinj by 211.2% during the 2nd 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 in the last quarter. Finally, USA Financial Formulas raised its stake in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after buying an additional 296 shares during the last quarter.

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.