Evercore ISI Initiates Coverage on Impinj (NASDAQ:PI)

Research analysts at Evercore ISI started coverage on shares of Impinj (NASDAQ:PI) in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage set an “outperform” rating and a $160.00 price target on the stock. Evercore ISI’s target price would suggest a potential upside of 35.02% from the stock’s previous close.

A number of other research analysts have also issued reports on PI. StockNews.com upgraded shares of Impinj to a “sell” rating in a report on Friday, February 9th. Susquehanna raised their price objective on shares of Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a report on Friday, February 9th. Canaccord Genuity Group raised their price objective on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, March 14th. The Goldman Sachs Group boosted their price target on shares of Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Roth Mkm boosted their price target on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.44.

Impinj Stock Down 1.2 %

PI stock opened at $118.50 on Tuesday. The stock has a market capitalization of $3.28 billion, a P/E ratio of -73.15 and a beta of 2.05. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj has a 12 month low of $48.39 and a 12 month high of $142.70. The firm has a 50-day moving average price of $115.28 and a 200-day moving average price of $90.84.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. The business had revenue of $70.65 million during the quarter, compared to analyst estimates of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. As a group, equities research analysts anticipate that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of Impinj stock in a transaction on Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Cary Baker sold 306 shares of Impinj stock in a transaction on Monday, March 18th. The shares were sold at an average price of $123.55, for a total value of $37,806.30. Following the completion of the sale, the chief financial officer now owns 65,748 shares in the company, valued at approximately $8,123,165.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Hussein Mecklai sold 30,000 shares of Impinj stock in a transaction on Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Insiders sold 117,634 shares of company stock worth $12,464,886 in the last quarter. 17.10% of the stock is owned by corporate insiders.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj in the 1st quarter worth $32,000. GAMMA Investing LLC bought a new stake in shares of Impinj in the 4th quarter worth $40,000. KBC Group NV bought a new stake in shares of Impinj in the 4th quarter worth $47,000. Advisors Asset Management Inc. bought a new stake in shares of Impinj in the 1st quarter worth $39,000. Finally, Headlands Technologies LLC bought a new stake in shares of Impinj in the 4th quarter worth $58,000.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.