IMPINJ Inc (NYSE:PI) had its target price lowered by Royal Bank of Canada from $44.00 to $42.00 in a report published on Monday, May 15th. Royal Bank of Canada currently has an outperform rating on the stock.
A number of other equities research analysts also recently issued reports on the stock. Canaccord Genuity restated a buy rating and issued a $38.00 target price on shares of IMPINJ in a report on Friday, May 12th. Zacks Investment Research downgraded shares of IMPINJ from a buy rating to a hold rating in a report on Saturday, May 6th. Morgan Stanley reaffirmed a buy rating and set a $40.00 price target on shares of IMPINJ in a research report on Tuesday, March 21st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $40.00 price target on shares of IMPINJ in a research report on Thursday, March 2nd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $38.88.
Shares of IMPINJ (NYSE PI) traded up 19.11% during mid-day trading on Monday, reaching $55.71. 2,241,238 shares of the company’s stock traded hands. The company’s 50-day moving average price is $43.06 and its 200-day moving average price is $34.94. The stock’s market capitalization is $1.15 billion. IMPINJ has a 12-month low of $16.36 and a 12-month high of $55.96.
IMPINJ (NYSE:PI) last released its earnings results on Thursday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The company had revenue of $31.70 million during the quarter, compared to analysts’ expectations of $30.81 million. The business’s revenue for the quarter was up 46.8% compared to the same quarter last year. Analysts anticipate that IMPINJ will post $0.24 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “IMPINJ Inc (PI) Price Target Lowered to $42.00 at Royal Bank of Canada” was reported by Markets Daily and is the property of of Markets Daily. If you are reading this story on another website, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this story can be viewed at https://www.themarketsdaily.com/2017/06/16/impinj-inc-pi-price-target-lowered-to-42-00-at-royal-bank-of-canada-2-updated-updated-updated.html.
In other news, insider Eric Brodersen sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.93, for a total transaction of $328,510.00. Following the transaction, the insider now directly owns 115,043 shares of the company’s stock, valued at $5,398,967.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Evan Fein sold 9,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $43.68, for a total transaction of $393,120.00. Following the transaction, the chief financial officer now directly owns 19,000 shares in the company, valued at $829,920. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,973 shares of company stock worth $3,960,452.
A number of hedge funds have recently bought and sold shares of PI. Wells Fargo & Company MN bought a new stake in IMPINJ during the third quarter valued at about $141,000. Gilder Gagnon Howe & Co. LLC bought a new stake in IMPINJ during the third quarter valued at about $54,684,000. Bank of New York Mellon Corp bought a new stake in IMPINJ during the third quarter valued at about $5,862,000. Monashee Investment Management LLC bought a new stake in IMPINJ during the third quarter valued at about $338,000. Finally, AWM Investment Company Inc. bought a new stake in IMPINJ during the third quarter valued at about $8,256,000.
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.
Receive News & Ratings for IMPINJ Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ Inc and related companies with MarketBeat.com's FREE daily email newsletter.