Susquehanna Raises Impinj (NASDAQ:PI) Price Target to $140.00

Impinj (NASDAQ:PI) had its target price hoisted by Susquehanna from $130.00 to $140.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 16.40% from the company’s previous close.

Other analysts also recently issued reports about the stock. Needham & Company LLC boosted their price target on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. The Goldman Sachs Group raised their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Canaccord Genuity Group raised their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Roth Mkm raised their price objective on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Evercore ISI began coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.56.

Impinj Stock Performance

Shares of PI opened at $120.27 on Tuesday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. Impinj has a 1 year low of $48.39 and a 1 year high of $141.03. The firm has a fifty day moving average of $116.53 and a 200-day moving average of $93.24. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -74.24 and a beta of 2.05.

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, topping the consensus estimate of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The business had revenue of $70.65 million during the quarter, compared to the consensus estimate of $67.10 million. As a group, equities analysts anticipate that Impinj will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other news, CRO Jeffrey Dossett sold 4,858 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the sale, the executive now directly owns 57,110 shares in the company, valued at $5,774,392.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Impinj news, CFO Cary Baker sold 1,062 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $127.61, for a total value of $135,521.82. Following the transaction, the chief financial officer now directly owns 67,384 shares in the company, valued at approximately $8,598,872.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.11, for a total value of $491,192.38. Following the sale, the executive now owns 57,110 shares of the company’s stock, valued at approximately $5,774,392.10. The disclosure for this sale can be found here. Insiders have sold a total of 120,185 shares of company stock worth $12,767,674 in the last three months. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in shares of Impinj by 0.8% during the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after buying an additional 31,289 shares during the last quarter. Sylebra Capital LLC bought a new stake in shares of Impinj during the 3rd quarter valued at $217,290,000. Westfield Capital Management Co. LP lifted its stake in shares of Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after purchasing an additional 292,470 shares during the period. Fred Alger Management LLC lifted its stake in shares of Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after purchasing an additional 568,301 shares during the period. Finally, Capital International Investors bought a new position in shares of Impinj in the 4th quarter worth $68,211,000.

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.