RBC Capital Markets Reaffirms Outperform Rating for IMPINJ Inc (PI)
IMPINJ Inc (NYSE:PI)‘s stock had its “outperform” rating restated by equities research analysts at RBC Capital Markets in a research note issued to investors on Friday. They currently have a $37.00 price target on the stock, up from their previous price target of $30.00. RBC Capital Markets’ price objective indicates a potential upside of 10.65% from the stock’s previous close.
Several other research analysts also recently issued reports on PI. Canaccord Genuity initiated coverage on IMPINJ in a research note on Monday, August 15th. They set a “buy” rating and a $25.00 price target for the company. Piper Jaffray Cos. initiated coverage on IMPINJ in a research note on Monday, August 15th. They set an “overweight” rating and a $24.00 price target for the company. Royal Bank Of Canada initiated coverage on IMPINJ in a research note on Monday, August 15th. They set an “outperform” rating and a $25.00 price target for the company. Pacific Crest initiated coverage on IMPINJ in a research note on Monday, August 15th. They set an “overweight” rating and a $24.00 price target for the company. Finally, Needham & Company LLC initiated coverage on shares of IMPINJ in a research note on Monday, August 15th. They issued a “buy” rating and a $24.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $30.71.
Shares of IMPINJ (NYSE:PI) traded down 2.36% on Friday, reaching $33.44. 176,477 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $30.87 and its 200-day moving average price is $26.79. IMPINJ has a 52 week low of $16.36 and a 52 week high of $38.43. The stock’s market capitalization is $595.57 million.
IMPINJ (NYSE:PI) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $47.60 million for the quarter, compared to analyst estimates of $25.31 million. The firm’s revenue was up 35.2% on a year-over-year basis. Equities analysts predict that IMPINJ will post $0.11 EPS for the current year.
In other IMPINJ news, Director Tom A. Alberg purchased 35,714 shares of the stock in a transaction on Tuesday, July 26th. The stock was bought at an average price of $14.00 per share, for a total transaction of $499,996.00. Following the acquisition, the director now directly owns 35,714 shares of the company’s stock, valued at $499,996. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Impinj, Inc is a provider of referral and information network (RAIN) radio frequency identification (RFID) solutions that provide item intelligence in the retail, pharmaceutical, healthcare, food and beverage, and other industries. The Company’s products include reader chips, tag chips, readers, gateways and software.
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