Shares of IMPINJ Inc (NASDAQ:PI) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $23.33.
Several research analysts recently weighed in on the stock. BidaskClub raised shares of IMPINJ from a “hold” rating to a “buy” rating in a research note on Saturday. ValuEngine downgraded shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Dougherty & Co reissued a “neutral” rating on shares of IMPINJ in a research note on Thursday, February 21st. Finally, Zacks Investment Research raised shares of IMPINJ from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, February 22nd.
NASDAQ:PI opened at $19.60 on Friday. The firm has a market cap of $410.11 million, a PE ratio of -28.82 and a beta of 2.25. The company has a debt-to-equity ratio of 0.19, a current ratio of 5.26 and a quick ratio of 3.32. IMPINJ has a 52-week low of $11.57 and a 52-week high of $28.48.
IMPINJ (NASDAQ:PI) last released its quarterly earnings results on Wednesday, February 20th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.05. IMPINJ had a negative return on equity of 17.42% and a negative net margin of 28.73%. The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $32.00 million. During the same quarter in the previous year, the company posted ($0.28) EPS. The business’s revenue was up 28.6% on a year-over-year basis. On average, analysts expect that IMPINJ will post -0.66 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Toronado Partners LLC purchased a new stake in shares of IMPINJ during the 4th quarter worth about $8,987,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in IMPINJ in the 3rd quarter worth approximately $387,000. Barclays PLC boosted its holdings in IMPINJ by 11.1% in the 4th quarter. Barclays PLC now owns 126,411 shares of the company’s stock worth $1,840,000 after acquiring an additional 12,633 shares during the period. Virtu Financial LLC purchased a new position in IMPINJ in the 4th quarter worth approximately $236,000. Finally, MetLife Investment Advisors LLC boosted its holdings in IMPINJ by 56.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 13,413 shares of the company’s stock worth $333,000 after acquiring an additional 4,852 shares during the period. Institutional investors own 65.85% of the company’s stock.
Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.
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