IMPINJ Inc (NYSE:PI) Price Target Lowered to $50.00 at Royal Bank Of Canada
IMPINJ Inc (NYSE:PI) had its price objective decreased by Royal Bank Of Canada from $59.00 to $50.00 in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 33.26% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Needham & Company LLC raised their target price on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Canaccord Genuity restated a “buy” rating and set a $50.00 target price (down previously from $57.00) on shares of IMPINJ in a research note on Friday. Morgan Stanley cut shares of IMPINJ from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $51.00 in a research note on Monday, June 19th. Zacks Investment Research cut shares of IMPINJ from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, KeyCorp cut shares of IMPINJ to a “hold” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $43.63.
IMPINJ (PI) traded down 21.70% on Friday, hitting $37.52. 4,861,036 shares of the stock traded hands. The firm’s 50 day moving average is $52.16 and its 200 day moving average is $39.25. IMPINJ has a 52 week low of $18.35 and a 52 week high of $60.85. The stock’s market cap is $774.23 million.
IMPINJ (NYSE:PI) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $34.10 million during the quarter, compared to analysts’ expectations of $33.41 million. IMPINJ had a negative net margin of 6.81% and a negative return on equity of 6.95%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. Equities analysts anticipate that IMPINJ will post $0.23 earnings per share for the current year.
In related news, Director Oppen Peter H. Van sold 24,166 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $44.02, for a total transaction of $1,063,787.32. Following the transaction, the director now directly owns 51,200 shares of the company’s stock, valued at $2,253,824. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Eric Brodersen sold 3,500 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $53.21, for a total transaction of $186,235.00. Following the transaction, the chief operating officer now directly owns 106,743 shares in the company, valued at $5,679,795.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,666 shares of company stock valued at $3,857,412.
A number of institutional investors have recently added to or reduced their stakes in PI. Capital Asset Advisory Services LLC raised its position in IMPINJ by 25.8% in the first quarter. Capital Asset Advisory Services LLC now owns 7,310 shares of the company’s stock worth $221,000 after buying an additional 1,500 shares in the last quarter. Global X Management Co. LLC raised its position in IMPINJ by 30.6% in the second quarter. Global X Management Co. LLC now owns 8,073 shares of the company’s stock worth $393,000 after buying an additional 1,892 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after buying an additional 1,942 shares in the last quarter. Turner Investments LLC acquired a new position in IMPINJ during the second quarter worth approximately $146,000. Finally, Geode Capital Management LLC raised its position in IMPINJ by 4.6% in the first quarter. Geode Capital Management LLC now owns 69,703 shares of the company’s stock worth $2,109,000 after buying an additional 3,050 shares in the last quarter.
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.
Receive News & Ratings for IMPINJ Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ Inc and related companies with MarketBeat.com's FREE daily email newsletter.