Impinj, Inc. (NASDAQ:PI) Given Consensus Rating of "Moderate Buy" by Analysts

Market Beat
2024.11.23 07:50
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Impinj, Inc. (NASDAQ:PI) has received a consensus rating of "Moderate Buy" from ten brokerages. Analysts have issued one hold rating and nine buy ratings, with an average 12-month target price of $40.60. Recent price target increases were made by Susquehanna, Evercore ISI, Cantor Fitzgerald, and Needham & Company. Impinj reported earnings of $0.56 per share, exceeding estimates, with a revenue increase of 46.5% year-over-year. Insiders have been active, with significant stock transactions noted. Hedge funds have also adjusted their stakes in the company recently.

Impinj, Inc. (NASDAQ:PI - Get Free Report) has earned an average recommendation of "Moderate Buy" from the ten brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $224.60.

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Several equities analysts have commented on PI shares. Susquehanna raised their target price on shares of Impinj from $215.00 to $260.00 and gave the company a "positive" rating in a report on Monday, October 21st. Evercore ISI reissued an "outperform" rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Cantor Fitzgerald boosted their price objective on shares of Impinj from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Needham & Company LLC raised their target price on Impinj from $195.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price target on Impinj from $165.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, October 25th.

Check Out Our Latest Stock Analysis on PI

Impinj Stock Up 1.5 %

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Shares of NASDAQ:PI opened at $191.04 on Friday. Impinj has a 12-month low of $78.17 and a 12-month high of $239.88. The business has a 50 day moving average of $206.07 and a 200-day moving average of $176.56. The stock has a market cap of $5.40 billion, a PE ratio of 214.65 and a beta of 1.81.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The business had revenue of $95.20 million during the quarter, compared to analysts' expectations of $92.86 million. During the same quarter in the previous year, the company earned ($0.36) EPS. The business's revenue was up 46.5% on a year-over-year basis. Equities research analysts expect that Impinj will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

  • Impinj Proves The Internet-of-Things (IoT) is No Fluke

In related news, CRO Jeffrey Dossett sold 7,500 shares of the company's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $181.17, for a total transaction of $1,358,775.00. Following the sale, the executive now owns 65,294 shares in the company, valued at $11,829,313.98. This represents a 10.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the company's stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares of the company's stock, valued at approximately $155,006,638.64. This trade represents a 14.81 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 655,674 shares of company stock worth $131,623,305. 51.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Impinj

A number of hedge funds have recently added to or reduced their stakes in PI. National Bank of Canada FI acquired a new position in shares of Impinj during the third quarter valued at about $30,000. Farther Finance Advisors LLC boosted its stake in Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company's stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in Impinj during the 3rd quarter worth approximately $54,000. SouthState Corp purchased a new stake in shares of Impinj in the second quarter worth approximately $94,000. Finally, nVerses Capital LLC lifted its holdings in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company's stock valued at $110,000 after purchasing an additional 300 shares in the last quarter.

Impinj Company Profile

(Get Free Report

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.

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