IMPINJ Inc (NYSE:PI)‘s stock had its “buy” rating reissued by research analysts at Dougherty & Co in a note issued to investors on Thursday. They currently have a $62.00 price target on the stock. Dougherty & Co’s target price points to a potential upside of 62.90% from the company’s current price.

Other analysts have also recently issued reports about the stock. KeyCorp cut shares of IMPINJ to a “hold” rating in a report on Tuesday, June 27th. Morgan Stanley cut shares of IMPINJ from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $51.00 in a report on Monday, June 19th. Canaccord Genuity reissued a “buy” rating and set a $50.00 target price (down from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Royal Bank Of Canada increased their target price on shares of IMPINJ from $50.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, June 19th. Finally, Zacks Investment Research cut shares of IMPINJ from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $47.63.

Shares of IMPINJ (NYSE:PI) traded up 0.71% on Thursday, reaching $38.35. 246,164 shares of the company’s stock traded hands. IMPINJ has a 52 week low of $23.55 and a 52 week high of $41.91. The company has a 50 day moving average of $38.56 and a 200-day moving average of $31.74. The stock’s market capitalization is $799.98 million.

IMPINJ (NYSE:PI) last issued its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The company had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Equities research analysts forecast that IMPINJ will post $0.05 earnings per share for the current year.

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In other IMPINJ news, COO Eric Brodersen sold 3,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $35.74, for a total transaction of $125,090.00. Following the completion of the sale, the chief operating officer now directly owns 101,443 shares of the company’s stock, valued at $3,625,572.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $1,808,505 in the last quarter.

A number of hedge funds have recently bought and sold shares of PI. Sylebra HK Co Ltd purchased a new stake in IMPINJ during the first quarter valued at about $88,898,000. Alliancebernstein L.P. purchased a new stake in IMPINJ during the first quarter valued at about $20,284,000. JPMorgan Chase & Co. lifted its stake in IMPINJ by 245.3% during the first quarter. JPMorgan Chase & Co. now owns 576,631 shares of the company’s stock valued at $17,455,000 after buying an additional 409,635 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in IMPINJ during the first quarter valued at about $9,327,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in IMPINJ during the second quarter valued at about $13,899,000.

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 (NYSE:PI)

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