IMPINJ Inc (PI) Given Average Recommendation of “Hold” by Brokerages

IMPINJ Inc (NASDAQ:PI) has been given a consensus rating of “Hold” by the ten research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $18.50.

A number of research analysts recently weighed in on the company. BidaskClub raised IMPINJ from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. ValuEngine raised IMPINJ from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Piper Jaffray Companies upped their price target on IMPINJ from $19.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 27th. Zacks Investment Research downgraded IMPINJ from a “hold” rating to a “sell” rating in a research note on Friday, May 11th. Finally, Canaccord Genuity raised IMPINJ from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, May 8th.

IMPINJ traded down $1.04, reaching $22.96, during trading on Friday, MarketBeat reports. 303,796 shares of the stock were exchanged, compared to its average volume of 719,222. IMPINJ has a twelve month low of $9.95 and a twelve month high of $51.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.67 and a current ratio of 8.00. The company has a market cap of $531.87 million, a P/E ratio of -79.17 and a beta of 2.00.

IMPINJ (NASDAQ:PI) last posted its quarterly earnings results on Monday, May 7th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.01). IMPINJ had a negative return on equity of 11.89% and a negative net margin of 24.95%. The firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $23.95 million. During the same period last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was down 20.8% compared to the same quarter last year. equities analysts predict that IMPINJ will post -1.36 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of IMPINJ by 0.4% in the fourth quarter. BlackRock Inc. now owns 1,149,501 shares of the company’s stock worth $25,898,000 after purchasing an additional 4,263 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of IMPINJ in the fourth quarter worth approximately $433,000. Engineers Gate Manager LP bought a new position in shares of IMPINJ in the first quarter valued at approximately $467,000. Neuberger Berman Group LLC bought a new position in shares of IMPINJ in the first quarter valued at approximately $6,207,000. Finally, Trellus Management Company LLC grew its holdings in shares of IMPINJ by 60.9% in the second quarter. Trellus Management Company LLC now owns 48,100 shares of the company’s stock valued at $1,063,000 after acquiring an additional 18,200 shares in the last quarter. 71.14% of the stock is owned by hedge funds and other institutional investors.

About IMPINJ

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.

Further Reading: Analyst Ratings

Analyst Recommendations for IMPINJ (NASDAQ:PI)

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