IMPINJ Inc (NYSE:PI) had its target price decreased by equities researchers at Dougherty & Co from $62.00 to $42.00 in a research note issued on Thursday. The brokerage presently has a “buy” rating on the stock. Dougherty & Co’s target price would indicate a potential upside of 23.02% from the company’s previous close.

A number of other research firms also recently issued reports on PI. Royal Bank Of Canada reissued an “outperform” rating on shares of IMPINJ in a report on Saturday, July 22nd. Zacks Investment Research downgraded shares of IMPINJ from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Needham & Company LLC lifted their price target on shares of IMPINJ from $40.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Canaccord Genuity reaffirmed a “buy” rating and set a $50.00 price target (down previously from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Finally, BidaskClub raised shares of IMPINJ from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $36.57.

IMPINJ (NYSE:PI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The business had revenue of $32.60 million during the quarter, compared to analysts’ expectations of $32.58 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS.

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In other news, insider Eric Brodersen sold 7,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $35.81, for a total transaction of $250,670.00. Following the completion of the sale, the insider now directly owns 101,443 shares of the company’s stock, valued at $3,632,673.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Evan Fein sold 9,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The disclosure for this sale can be found here. Insiders have sold 37,000 shares of company stock valued at $1,392,420 over the last three months.

Several institutional investors and hedge funds have recently modified their holdings of the company. Carnegie Capital Asset Management LLC lifted its stake in IMPINJ by 10.7% in the second quarter. Carnegie Capital Asset Management LLC now owns 15,230 shares of the company’s stock worth $747,000 after acquiring an additional 1,470 shares during the period. Capital Asset Advisory Services LLC lifted its stake 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 acquiring an additional 1,500 shares during the period. PNC Financial Services Group Inc. lifted its stake in IMPINJ by 95.1% in the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock worth $176,000 after acquiring an additional 1,765 shares during the period. Global X Management Co. LLC lifted its stake 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 acquiring an additional 1,892 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake 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 acquiring an additional 1,942 shares during the period.

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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