Trading Report: Today, Brokerages gives Consensus Recommendation of “Buy” to IMPINJ Inc (PI)

Today, Brokerages gives Consensus Recommendation of “Buy” to IMPINJ Inc (PI)

IMPINJ Inc (NYSE:PI) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the stock. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $31.13.

A number of research firms have commented on PI. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target (up previously from $24.00) on shares of IMPINJ in a research report on Saturday, September 3rd. Canaccord Genuity began coverage on IMPINJ in a research report on Monday, August 15th. They issued a “buy” rating and a $25.00 price target on the stock. Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, November 2nd. Pacific Crest reiterated a “buy” rating and issued a $36.00 price target on shares of IMPINJ in a research report on Friday, November 4th. Finally, Royal Bank Of Canada began coverage on IMPINJ in a research report on Monday, August 15th. They issued an “outperform” rating and a $25.00 price target on the stock.

Several large investors have recently made changes to their positions in PI. Spark Investment Management LLC acquired a new stake in shares of IMPINJ during the third quarter valued at approximately $4,400,000. Northern Trust Corp purchased a new position in IMPINJ during the third quarter worth $445,000. Emerald Acquisition Ltd. purchased a new position in IMPINJ during the third quarter worth $267,000. California State Teachers Retirement System purchased a new position in IMPINJ during the third quarter worth $442,000. Finally, BlackRock Institutional Trust Company N.A. purchased a new position in IMPINJ during the third quarter worth $4,247,000.

Shares of IMPINJ (NYSE:PI) traded down 0.69% during midday trading on Friday, reaching $28.60. The company had a trading volume of 217,363 shares. The stock’s market capitalization is $509.37 million. IMPINJ has a 12-month low of $16.36 and a 12-month high of $38.43. The stock’s 50 day moving average is $28.80 and its 200-day moving average is $27.46.

IMPINJ (NYSE:PI) last issued its earnings results on Thursday, November 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The firm earned $31 million during the quarter, compared to analyst estimates of $28.39 million. The firm’s revenue was up 49.8% on a year-over-year basis. On average, equities research analysts predict that IMPINJ will post $0.20 earnings per share for the current fiscal year.

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