IMPINJ Inc (NASDAQ:PI) Receives $38.00 Average Target Price from Analysts

IMPINJ Inc (NASDAQ:PI) has earned an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $38.00.

A number of equities analysts have issued reports on PI shares. ValuEngine cut IMPINJ from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 11th. BidaskClub upgraded IMPINJ from a “strong sell” rating to a “sell” rating in a report on Friday, January 10th. TheStreet cut IMPINJ from a “c-” rating to a “d+” rating in a report on Tuesday, December 31st. Zacks Investment Research cut IMPINJ from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Needham & Company LLC upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, December 17th.

PI opened at $31.20 on Tuesday. The company has a quick ratio of 4.21, a current ratio of 5.90 and a debt-to-equity ratio of 0.39. IMPINJ has a 12 month low of $14.00 and a 12 month high of $40.24. The company has a fifty day simple moving average of $28.19 and a 200 day simple moving average of $32.51. The stock has a market cap of $645.26 million, a P/E ratio of -45.88, a P/E/G ratio of 27.77 and a beta of 2.47.

IMPINJ (NASDAQ:PI) last released its quarterly earnings data on Monday, November 4th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.10. IMPINJ had a negative net margin of 14.52% and a negative return on equity of 1.81%. The business had revenue of $40.76 million during the quarter, compared to analysts’ expectations of $38.21 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. On average, equities research analysts expect that IMPINJ will post -0.74 earnings per share for the current fiscal year.

In related news, COO Eric Brodersen sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $34.42, for a total value of $120,470.00. Following the completion of the sale, the chief operating officer now directly owns 11,300 shares in the company, valued at approximately $388,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tom A. Alberg sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $34.45, for a total transaction of $413,400.00. Following the completion of the sale, the director now owns 87,269 shares of the company’s stock, valued at $3,006,417.05. The disclosure for this sale can be found here. Insiders sold a total of 40,750 shares of company stock valued at $1,417,448 over the last quarter. 28.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of PI. JPMorgan Chase & Co. lifted its position in IMPINJ by 1,233.1% during the second quarter. JPMorgan Chase & Co. now owns 53,110 shares of the company’s stock worth $1,531,000 after acquiring an additional 49,126 shares during the last quarter. Bank of Montreal Can acquired a new stake in IMPINJ during the second quarter worth approximately $36,000. Charles Schwab Investment Management Inc. lifted its position in IMPINJ by 1.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 89,947 shares of the company’s stock worth $2,575,000 after acquiring an additional 1,567 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new stake in IMPINJ during the second quarter worth approximately $414,000. Finally, Vanguard Group Inc. lifted its position in IMPINJ by 28.2% during the second quarter. Vanguard Group Inc. now owns 604,615 shares of the company’s stock worth $17,304,000 after acquiring an additional 132,865 shares during the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

About IMPINJ

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item’s unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.