RBC Capital Markets Reaffirms Outperform Rating for IMPINJ Inc (PI)
IMPINJ Inc (NYSE:PI)‘s stock had its “outperform” rating reissued by stock analysts at RBC Capital Markets in a report released on Friday. They presently have a $37.00 price target on the stock, up from their previous price target of $30.00. RBC Capital Markets’ price objective would indicate a potential upside of 10.65% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. KeyCorp increased their target price on shares of IMPINJ from $29.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, September 26th. Pacific Crest reiterated an “overweight” rating and issued a $29.00 target price (up from $24.00) on shares of IMPINJ in a research report on Sunday, September 4th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price (up from $24.00) on shares of IMPINJ in a research report on Saturday, September 3rd. Piper Jaffray Cos. increased their target price on shares of IMPINJ from $24.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, September 1st. Finally, Royal Bank Of Canada increased their target price on shares of IMPINJ from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, September 1st. Seven analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $30.71.
Shares of IMPINJ (NYSE:PI) traded down 2.36% during midday trading on Friday, reaching $33.44. 176,477 shares of the company were exchanged. IMPINJ has a 52 week low of $16.36 and a 52 week high of $38.43. The firm’s market capitalization is $595.57 million. The firm has a 50-day moving average of $30.87 and a 200 day moving average of $26.79.
IMPINJ (NYSE:PI) last issued its earnings results on Thursday, September 1st. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. The business earned $47.60 million during the quarter, compared to analyst estimates of $25.31 million. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. On average, equities research analysts expect that IMPINJ will post $0.11 EPS for the current year.
In related news, Director Tom A. Alberg bought 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, with a total value of $499,996.00. Following the completion of the purchase, the director now directly owns 35,714 shares in the company, valued at approximately $499,996. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
IMPINJ Company Profile
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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