In a report released today, Jaeson Schmidt from Lake Street maintained a Buy rating on IMPINJ (PI – Research Report), with a price target of $118.00. The company’s shares closed today at $116.32.
Schmidt covers the Technology sector, focusing on stocks such as inTEST, Powerfleet, and Lightpath Technologies. According to TipRanks, Schmidt has an average return of 8.1% and a 48.74% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for IMPINJ with a $134.13 average price target, a 15.31% upside from current levels. In a report released on April 15, Evercore ISI also initiated coverage with a Buy rating on the stock with a $160.00 price target.
Based on IMPINJ’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $70.65 million and a GAAP net loss of $15.18 million. In comparison, last year the company earned a revenue of $76.59 million and had a GAAP net loss of $118 thousand
Based on the recent corporate insider activity of 113 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PI in relation to earlier this year. Most recently, in February 2024, Cary Baker, the CFO of PI sold 6,284.00 shares for a total of $639,380.02.
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IMPINJ (PI) Company Description:
IImpinj, Inc. engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain & logistics, hospitality, food & beverage and industrial manufacturing industries. The company was founded by Carver Mead and Chris Diorio in April 2000 and is headquartered in Seattle, WA.
