Shares of IMPINJ Inc (NYSE:PI) have been assigned an average recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $42.33.

Several research analysts have weighed in on PI shares. Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, April 25th. Morgan Stanley reiterated a “buy” rating and issued a $40.00 target price on shares of IMPINJ in a research note on Tuesday, March 21st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $50.00 target price (up from $42.00) on shares of IMPINJ in a research note on Sunday, May 28th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $38.00 target price on shares of IMPINJ in a research note on Friday, May 12th.

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Shares of IMPINJ (NYSE:PI) traded up 2.08% during midday trading on Tuesday, hitting $52.50. The stock had a trading volume of 414,669 shares. The stock’s market cap is $1.08 billion. The firm has a 50 day moving average price of $47.51 and a 200 day moving average price of $36.59. IMPINJ has a one year low of $16.36 and a one year high of $60.85.

IMPINJ (NYSE:PI) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. IMPINJ had a negative return on equity of 6.95% and a negative net margin of 6.81%. The firm had revenue of $31.70 million for the quarter, compared to the consensus estimate of $30.81 million. The company’s quarterly revenue was up 46.8% compared to the same quarter last year. On average, equities analysts forecast that IMPINJ will post $0.23 earnings per share for the current fiscal year.

In related news, Director Oppen Peter H. Van sold 24,166 shares of IMPINJ stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $44.02, for a total value of $1,063,787.32. Following the sale, the director now directly owns 51,200 shares in the company, valued at $2,253,824. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Oppen Peter H. Van sold 25,000 shares of IMPINJ 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 completion of the sale, the director now owns 80,595 shares in the company, valued at $3,163,353.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,573 shares of company stock worth $4,339,208.

Several hedge funds have recently bought and sold shares of PI. American International Group Inc. purchased a new position in shares of IMPINJ during the first quarter valued at about $112,000. First Washington CORP purchased a new position in shares of IMPINJ during the first quarter valued at about $122,000. Nordea Investment Management AB purchased a new position in shares of IMPINJ during the first quarter valued at about $127,000. ClariVest Asset Management LLC purchased a new position in shares of IMPINJ during the first quarter valued at about $127,000. Finally, Herald Investment Management Ltd purchased a new position in shares of IMPINJ during the first quarter valued at about $151,000.

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.

Analyst Recommendations for IMPINJ (NYSE:PI)

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