IMPINJ Inc (NYSE:PI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $27.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 0.63% from the company’s current price.
According to Zacks, “Impinj, Inc. is a provider of referral and information network radio frequency identification solutions to the retail, pharmaceutical, healthcare, food and beverage and other industries. The company’s products include Indy Reader Chips which consists of integrated radio chips and supporting SDKs; Monza Tag Chips, which deliver memory options and extended features to RFID tags and Speedway fixed RFID readers and antennas for RFID-based information. Impinj, Inc. is based in Seattle, Washington. “
A number of other brokerages have also recently issued reports on PI. KeyCorp raised their target price on IMPINJ from $29.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, September 26th. RBC Capital Markets reaffirmed an “outperform” rating and set a $37.00 price target (up previously from $30.00) on shares of IMPINJ in a research report on Friday, October 7th. Pacific Crest reaffirmed an “overweight” rating and set a $29.00 price target (up previously from $24.00) on shares of IMPINJ in a research report on Sunday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target (up previously from $24.00) on shares of IMPINJ in a research report on Saturday, September 3rd. Finally, Piper Jaffray Cos. raised their price target on IMPINJ from $24.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, September 1st. Eight investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $31.13.
Shares of IMPINJ (NYSE:PI) traded down 7.10% during trading on Wednesday, reaching $26.57. 627,010 shares of the company were exchanged. The firm’s market capitalization is $473.21 million. The company’s 50-day moving average is $28.34 and its 200 day moving average is $27.46. IMPINJ has a 1-year low of $16.36 and a 1-year high of $38.43.
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 the Zacks’ consensus estimate of $0.06 by $0.04. The company had revenue of $31 million for the quarter, compared to the consensus estimate of $28.39 million. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities research analysts expect that IMPINJ will post $0.20 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in PI. Symmetry Peak Management LLC purchased a new stake in shares of IMPINJ during the third quarter worth about $1,262,000. AWM Investment Company Inc. purchased a new stake in shares of IMPINJ during the third quarter worth about $8,256,000. United Services Automobile Association purchased a new stake in shares of IMPINJ during the third quarter worth about $486,000. Morgan Stanley purchased a new stake in shares of IMPINJ during the third quarter worth about $210,000. Finally, Spark Investment Management LLC purchased a new stake in shares of IMPINJ during the third quarter worth about $4,400,000.
IMPINJ Company Profile
Impinj, Inc is a United States-based provider of referral and information network (RAIN) radio frequency identification (RFID) solutions that provide Item Intelligence in retail, pharmaceutical, healthcare, food and beverage, and manufacturing and supply chain logistics. The Company offers a platform, Impinj that uses RAIN RFID, wirelessly connecting and networking everyday items, including inventory and assets, to software applications, such as enterprise resource planning systems and management systems.