IMPINJ (NASDAQ:PI) Price Target Raised to $40.00 at Piper Jaffray Companies

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IMPINJ (NASDAQ:PI) had its price objective raised by Piper Jaffray Companies from $32.00 to $40.00 in a research report report published on Tuesday, July 30th, The Fly reports. The brokerage currently has an overweight rating on the stock.

PI has been the subject of several other research reports. BidaskClub upgraded IMPINJ from a buy rating to a strong-buy rating in a research note on Wednesday, April 24th. ValuEngine upgraded IMPINJ from a hold rating to a buy rating in a research note on Tuesday, July 2nd. Canaccord Genuity increased their target price on IMPINJ from $31.00 to $35.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Roth Capital assumed coverage on IMPINJ in a research report on Tuesday, April 23rd. They issued a buy rating and a $27.00 price objective for the company. Finally, Zacks Investment Research downgraded IMPINJ from a buy rating to a hold rating in a research report on Saturday, July 27th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $39.25.

NASDAQ:PI opened at $35.66 on Tuesday. The company has a current ratio of 5.95, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. IMPINJ has a 1-year low of $13.25 and a 1-year high of $40.24. The business’s fifty day moving average price is $34.60 and its 200 day moving average price is $24.66. The firm has a market capitalization of $776.00 million, a price-to-earnings ratio of -52.44 and a beta of 2.73.

IMPINJ (NASDAQ:PI) last issued its earnings results on Monday, July 29th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.12. IMPINJ had a negative return on equity of 7.65% and a negative net margin of 17.31%. The company had revenue of $38.19 million for the quarter, compared to analyst estimates of $34.95 million. During the same period in the prior year, the firm posted ($0.19) EPS. The business’s revenue was up 33.8% compared to the same quarter last year. Equities analysts forecast that IMPINJ will post -0.44 earnings per share for the current year.

In other news, Director Tom A. Alberg sold 35,714 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $37.54, for a total value of $1,340,703.56. Following the transaction, the director now directly owns 78,782 shares in the company, valued at approximately $2,957,476.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chris Ph.D. Diorio sold 10,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the chief executive officer now owns 285,478 shares in the company, valued at $7,136,950. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,184 shares of company stock valued at $4,578,257. 26.00% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. bought a new position in IMPINJ during the second quarter worth about $34,000. Bank of Montreal Can bought a new position in IMPINJ during the second quarter worth about $36,000. Citigroup Inc. lifted its holdings in IMPINJ by 14,485.7% during the fourth quarter. Citigroup Inc. now owns 2,042 shares of the company’s stock worth $30,000 after acquiring an additional 2,028 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of IMPINJ in the first quarter valued at about $48,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of IMPINJ by 48,471.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,400 shares of the company’s stock valued at $57,000 after purchasing an additional 3,393 shares in the last quarter. Hedge funds and other institutional investors own 65.52% of the company’s stock.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

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