IMPINJ Inc (PI) Given Average Rating of “Hold” by Analysts

Shares of IMPINJ Inc (NASDAQ:PI) have received an average recommendation of “Hold” from the ten research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $15.50.

Several equities research analysts recently weighed in on the stock. Dougherty & Co reduced their price target on shares of IMPINJ from $62.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. Morgan Stanley reduced their price target on shares of IMPINJ from $27.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, February 5th. Canaccord Genuity restated a “hold” rating on shares of IMPINJ in a research report on Friday, February 16th. Needham & Company LLC cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, ValuEngine cut shares of IMPINJ from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd.

IMPINJ (NASDAQ PI) traded up $0.09 during trading on Wednesday, hitting $12.15. 1,650,000 shares of the stock traded hands, compared to its average volume of 1,490,000. The company has a market capitalization of $254.64 and a PE ratio of -14.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49. IMPINJ has a 52-week low of $9.95 and a 52-week high of $60.85.

IMPINJ (NASDAQ:PI) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.09). The company had revenue of $26.90 million for the quarter, compared to the consensus estimate of $29.50 million. IMPINJ had a negative net margin of 13.82% and a negative return on equity of 5.93%. The company’s quarterly revenue was down 20.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. sell-side analysts expect that IMPINJ will post -1.13 earnings per share for the current fiscal year.

In other IMPINJ news, CFO Evan Fein sold 5,700 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $25.01, for a total transaction of $142,557.00. Following the transaction, the chief financial officer now owns 17,500 shares in the company, valued at $437,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Sylebra HK Co Ltd boosted its stake in shares of IMPINJ by 32.8% during the fourth quarter. Sylebra HK Co Ltd now owns 3,899,063 shares of the company’s stock valued at $87,846,000 after purchasing an additional 962,212 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of IMPINJ by 4.0% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,191,393 shares of the company’s stock valued at $91,184,000 after purchasing an additional 84,514 shares during the period. BlackRock Inc. boosted its stake in shares of IMPINJ by 0.4% during the fourth quarter. BlackRock Inc. now owns 1,149,501 shares of the company’s stock valued at $25,898,000 after purchasing an additional 4,263 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of IMPINJ by 661.1% during the third quarter. Allianz Asset Management GmbH now owns 775,896 shares of the company’s stock valued at $32,285,000 after purchasing an additional 673,948 shares during the period. Finally, Hood River Capital Management LLC boosted its stake in shares of IMPINJ by 1.1% during the third quarter. Hood River Capital Management LLC now owns 739,823 shares of the company’s stock valued at $30,784,000 after purchasing an additional 7,858 shares during the period. Institutional investors and hedge funds own 74.84% of the company’s stock.

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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 (NASDAQ:PI)

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