IMPINJ Inc (PI) Given “Buy” Rating at Dougherty & Co
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.
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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