IMPINJ Inc (NYSE:PI) had its target price boosted by stock analysts at Royal Bank Of Canada from $50.00 to $59.00 in a research note issued on Monday. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 5.91% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Morgan Stanley lowered shares of IMPINJ from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $51.00 in a research report on Monday. Canaccord Genuity reiterated a “buy” rating and set a $38.00 price target on shares of IMPINJ in a research report on Friday, May 12th. Zacks Investment Research lowered shares of IMPINJ from a “buy” rating to a “hold” rating in a research report on Saturday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of IMPINJ in a research report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $41.38.

Analyst Recommendations for IMPINJ (NYSE:PI)

IMPINJ (NYSE PI) traded up 0.25% on Monday, reaching $55.85. 161,780 shares of the company’s stock were exchanged. The company’s market cap is $1.15 billion. IMPINJ has a 52-week low of $16.36 and a 52-week high of $57.15. The firm’s 50 day moving average price is $43.06 and its 200 day moving average price is $34.94.

IMPINJ (NYSE:PI) last announced its earnings results on Thursday, May 4th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $31.70 million for the quarter, compared to the consensus estimate of $30.81 million. The firm’s revenue was up 46.8% compared to the same quarter last year. On average, analysts expect that IMPINJ will post $0.24 earnings per share for the current year.

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In other IMPINJ news, Director Oppen Peter H. Van sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $39.25, for a total value of $981,250.00. Following the sale, the director now owns 80,595 shares in the company, valued at $3,163,353.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric Brodersen sold 5,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $28.36, for a total transaction of $153,144.00. Following the completion of the sale, the insider now owns 136,343 shares in the company, valued at approximately $3,866,687.48. The disclosure for this sale can be found here. Insiders sold 97,973 shares of company stock worth $3,960,452 in the last 90 days.

Hedge funds have recently modified their holdings of the stock. UBS Oconnor LLC bought a new stake in shares of IMPINJ during the first quarter worth $5,318,000. Goldman Sachs Group Inc. bought a new stake in shares of IMPINJ during the first quarter worth $1,715,000. Brighton Jones LLC bought a new stake in shares of IMPINJ during the first quarter worth $310,000. Adalta Capital Management LLC bought a new stake in shares of IMPINJ during the first quarter worth $1,272,000. Finally, Ironwood Investment Management LLC bought a new stake in shares of IMPINJ during the first quarter worth $1,025,000.

IMPINJ Company Profile

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

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