Cantor Fitzgerald Forecasts Strong Price Appreciation for Impinj (NASDAQ:PI) Stock

Impinj (NASDAQ:PI) had its price target upped by Cantor Fitzgerald from $133.00 to $158.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Susquehanna raised their target price on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research note on Tuesday, July 22nd. Evercore ISI raised their target price on Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC increased their price target on Impinj from $115.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler increased their price target on Impinj from $100.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.29.

Impinj Trading Up 26.5%

NASDAQ:PI opened at $154.58 on Thursday. Impinj has a 1 year low of $60.85 and a 1 year high of $239.88. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 15,473.47 and a beta of 1.64. The business has a fifty day moving average of $114.70 and a 200-day moving average of $105.10. The company has a debt-to-equity ratio of 1.77, a quick ratio of 7.46 and a current ratio of 10.96.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.08. Impinj had a return on equity of 8.67% and a net margin of 0.18%. The business had revenue of $97.89 million during the quarter, compared to analysts’ expectations of $93.78 million. During the same quarter last year, the business posted $0.83 earnings per share. The company’s quarterly revenue was down 4.5% on a year-over-year basis. Equities analysts predict that Impinj will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Impinj

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Pension Plan Investment Board purchased a new stake in Impinj in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Impinj in the 2nd quarter worth about $28,000. Harbour Investments Inc. purchased a new stake in Impinj in the 2nd quarter worth about $33,000. Banque Transatlantique SA purchased a new stake in Impinj in the 1st quarter worth about $29,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Impinj in the 2nd quarter worth about $43,000.

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.