Canaccord Genuity Group Boosts Impinj (NASDAQ:PI) Price Target to $100.00

Impinj (NASDAQ:PI) had its price target upped by Canaccord Genuity Group from $95.00 to $100.00 in a research note issued to investors on Wednesday morning, Price Targets.com reports. Canaccord Genuity Group currently has a buy rating on the stock.

PI has been the topic of several other research reports. Roth Capital lifted their price target on Impinj from $68.00 to $74.00 and gave the company a buy rating in a research note on Thursday, October 28th. Jefferies Financial Group started coverage on Impinj in a research report on Wednesday, December 15th. They issued a buy rating and a $100.00 target price on the stock. Piper Sandler lifted their target price on Impinj from $90.00 to $100.00 in a research report on Monday, January 3rd. lifted their target price on Impinj from $75.00 to $95.00 and gave the company a buy rating in a research report on Wednesday, November 17th. Finally, Lake Street Capital lifted their target price on Impinj from $76.00 to $100.00 in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Impinj currently has an average rating of Buy and a consensus target price of $91.36.

NASDAQ PI opened at $90.62 on Wednesday. Impinj has a 52 week low of $39.69 and a 52 week high of $94.39. The stock has a fifty day moving average of $82.16 and a 200-day moving average of $63.53.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, October 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Impinj had a negative return on equity of 43.37% and a negative net margin of 26.97%. The firm had revenue of $45.19 million for the quarter, compared to the consensus estimate of $44.13 million. During the same quarter last year, the business posted ($0.54) EPS. The company’s revenue for the quarter was up 60.3% on a year-over-year basis. As a group, equities research analysts expect that Impinj will post -1.52 EPS for the current year.

In other news, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $75.26, for a total transaction of $376,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cary Baker sold 2,500 shares of the company’s stock in a transaction on Thursday, October 28th. The stock was sold at an average price of $60.81, for a total transaction of $152,025.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,057,919 shares of company stock valued at $82,789,563. 24.70% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in Impinj in the second quarter valued at $26,000. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the fourth quarter valued at $44,000. US Bancorp DE increased its holdings in Impinj by 33.9% in the second quarter. US Bancorp DE now owns 2,373 shares of the company’s stock valued at $123,000 after purchasing an additional 601 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in Impinj in the third quarter valued at $146,000. Finally, Royal Bank of Canada boosted its position in Impinj by 46.4% during the second quarter. Royal Bank of Canada now owns 3,213 shares of the company’s stock valued at $166,000 after acquiring an additional 1,019 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

About Impinj

IImpinj, Inc engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain and logistics, hospitality, food and beverage, and industrial manufacturing industries.

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Analyst Recommendations for Impinj (NASDAQ:PI)

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