IMPINJ Inc (NYSE:PI)‘s stock had its “buy” rating restated by investment analysts at Dougherty & Co in a research note issued to investors on Thursday. They currently have a $62.00 price objective on the stock. Dougherty & Co’s price target indicates a potential upside of 62.90% from the stock’s previous close.

Several other research analysts also recently issued reports on PI. Zacks Investment Research downgraded IMPINJ from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 18th. Royal Bank Of Canada restated an “outperform” rating and set a $50.00 price objective (up from $42.00) on shares of IMPINJ in a research report on Sunday, May 28th. Morgan Stanley downgraded IMPINJ from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $40.00 to $51.00 in a research report on Monday, June 19th. KeyCorp downgraded IMPINJ to a “hold” rating in a research report on Tuesday, June 27th. Finally, Needham & Company LLC lifted their price objective on IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $47.63.

Shares of IMPINJ (NYSE:PI) traded up 0.8755% on Thursday, reaching $38.4134. The company had a trading volume of 244,176 shares. IMPINJ has a 1-year low of $23.55 and a 1-year high of $41.91. The firm has a 50-day moving average price of $38.57 and a 200 day moving average price of $31.74. The firm’s market capitalization is $801.30 million.

IMPINJ (NYSE:PI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The firm had revenue of $34.10 million during the quarter, compared to the consensus estimate of $33.41 million. During the same period in the previous year, the firm posted $0.06 EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities research analysts predict that IMPINJ will post $0.05 earnings per share for the current year.

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In other IMPINJ news, CFO Evan Fein sold 10,000 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $53.19, for a total value of $531,900.00. Following the completion of the transaction, the chief financial officer now directly owns 21,100 shares in the company, valued at approximately $1,122,309. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Eric Brodersen sold 3,500 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $53.21, for a total value of $186,235.00. Following the completion of the transaction, the chief operating officer now owns 106,743 shares of the company’s stock, valued at $5,679,795.03. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $1,808,505 over the last quarter.

Several hedge funds and other institutional investors have recently made changes to their positions in PI. Sylebra HK Co Ltd purchased a new stake in shares of IMPINJ during the 1st quarter valued at $88,898,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of IMPINJ during the 3rd quarter valued at $54,684,000. Alliancebernstein L.P. purchased a new stake in shares of IMPINJ during the 1st quarter valued at $20,284,000. Hood River Capital Management LLC purchased a new stake in shares of IMPINJ during the 1st quarter valued at $16,924,000. Finally, JPMorgan Chase & Co. grew its stake in shares of IMPINJ by 245.3% during the 1st quarter. JPMorgan Chase & Co. now owns 576,631 shares of the company’s stock valued at $17,455,000 after buying an additional 409,635 shares during the period.

About IMPINJ

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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