IMPINJ Inc (PI) Stock Rating Reaffirmed by RBC Capital Markets
IMPINJ Inc (NYSE:PI)‘s stock had its “outperform” rating reiterated by equities researchers at RBC Capital Markets in a report issued on Friday. They currently have a $37.00 price target on the stock, up from their prior price target of $30.00. RBC Capital Markets’ target price would indicate a potential upside of 10.65% from the company’s current price.
A number of other equities analysts have also weighed in on PI. Canaccord Genuity started coverage on IMPINJ in a research report on Monday, August 15th. They set a “buy” rating and a $25.00 target price on the stock. Piper Jaffray Cos. assumed coverage on IMPINJ in a research report on Monday, August 15th. They issued an “overweight” rating and a $24.00 price target for the company. Royal Bank Of Canada assumed coverage on IMPINJ in a research report on Monday, August 15th. They issued an “outperform” rating and a $25.00 price target for the company. Pacific Crest assumed coverage on IMPINJ in a research report on Monday, August 15th. They issued an “overweight” rating and a $24.00 price target for the company. Finally, Needham & Company LLC assumed coverage on IMPINJ in a research report on Monday, August 15th. They issued a “buy” rating and a $24.00 price target for the company. Seven analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $30.71.
IMPINJ (NYSE:PI) traded down 2.36% during midday trading on Friday, hitting $33.44. The stock had a trading volume of 176,477 shares. IMPINJ has a 52 week low of $16.36 and a 52 week high of $38.43. The company has a 50-day moving average price of $31.18 and a 200-day moving average price of $26.91. The stock’s market cap is $595.57 million.
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IMPINJ (NYSE:PI) last issued its earnings results on Thursday, September 1st. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $47.60 million for the quarter, compared to analyst estimates of $25.31 million. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. Equities analysts expect that IMPINJ will post $0.11 EPS for the current year.
In other IMPINJ news, Director Tom A. Alberg bought 35,714 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was purchased at an average cost of $14.00 per share, with a total value of $499,996.00. Following the transaction, the director now directly owns 35,714 shares in the company, valued at approximately $499,996. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Impinj, Inc is a provider of referral and information network (RAIN) radio frequency identification (RFID) solutions that provide item intelligence in the retail, pharmaceutical, healthcare, food and beverage, and other industries. The Company’s products include reader chips, tag chips, readers, gateways and software.
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