Piper Jaffray Companies Raises IMPINJ (PI) Price Target to $31.00

IMPINJ (NASDAQ:PI) had its target price upped by Piper Jaffray Companies from $26.00 to $31.00 in a research report sent to investors on Thursday, The Fly reports. They currently have an overweight rating on the stock.

A number of other analysts also recently issued reports on PI. BidaskClub raised IMPINJ from a hold rating to a buy rating in a report on Wednesday, August 15th. ValuEngine raised IMPINJ from a sell rating to a hold rating in a report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. IMPINJ has a consensus rating of Hold and an average price target of $27.71.

PI opened at $26.40 on Thursday. IMPINJ has a 12 month low of $9.95 and a 12 month high of $41.97. The company has a current ratio of 8.00, a quick ratio of 4.67 and a debt-to-equity ratio of 0.20.

IMPINJ (NASDAQ:PI) last released its earnings results on Wednesday, September 12th. The company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. IMPINJ had a negative return on equity of 16.72% and a negative net margin of 32.16%. The firm had revenue of $28.50 million during the quarter, compared to analysts’ expectations of $28.50 million. During the same period in the previous year, the firm posted $0.06 EPS. IMPINJ’s revenue for the quarter was down 16.4% on a year-over-year basis. equities analysts expect that IMPINJ will post -1.62 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in PI. Neuberger Berman Group LLC purchased a new stake in IMPINJ during the 1st quarter worth about $6,207,000. Sylebra HK Co Ltd lifted its holdings in IMPINJ by 8.5% during the 1st quarter. Sylebra HK Co Ltd now owns 4,231,582 shares of the company’s stock worth $55,095,000 after buying an additional 332,519 shares during the last quarter. GMT Capital Corp lifted its holdings in shares of IMPINJ by 46.2% in the 2nd quarter. GMT Capital Corp now owns 611,500 shares of the company’s stock valued at $13,520,000 after purchasing an additional 193,300 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of IMPINJ in the 1st quarter valued at about $2,440,000. Finally, SCP Investment LP purchased a new stake in shares of IMPINJ in the 2nd quarter valued at about $4,112,000. 70.34% of the stock is owned by institutional investors.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.

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