IMPINJ Inc (NYSE:PI) Receives Average Recommendation of “Buy” from Brokerages
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.
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