Impinj Inc. [PI] stock Reiterated by Needham analyst, price target now $34

Impinj Inc. [NASDAQ: PI] jumped around 1.12 points on Tuesday, while shares priced at $24.67 at the close of the session, up 4.76%. The company report on July 29, 2020 that Impinj Reports Second Quarter 2020 Financial Results.

Impinj, Inc. (NASDAQ: PI), a leading provider and pioneer of RAIN RFID solutions, today released its financial results for the second quarter ended June 30, 2020.

“Covid-19 negatively impacted our second-quarter results, and the continuing uncertainty tempers our third-quarter outlook,” said Chris Diorio, Impinj co-founder and CEO. “Regardless, we see brightness ahead. Endpoint IC bookings are improving, large systems opportunities are accelerating and, longer term, we see adoption accelerating as leading end users leverage the improved visibility, insights, virtualization and customer experience that RAIN brings to their businesses.”.

Impinj Inc. stock is now -4.60% down from its year-to-date (YTD) trading value. PI Stock saw the intraday high of $24.72 and lowest of $23.28 per share. The company’s 52-week high price is 39.45, which means current price is +115.08% above from all time high which was touched on 01/24/20.

Compared to the average trading volume of 358.45K shares, PI reached a trading volume of 1123976 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Impinj Inc. [PI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PI shares is $30.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PI stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Impinj Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 10, 2020. While these analysts kept the previous recommendation, Needham dropped their target price from $33 to $19. The new note on the price target was released on March 19, 2020, representing the official price target for Impinj Inc. stock. Previously, the target price had yet another raise to $32, while Needham analysts kept a Buy rating on PI stock.

The Average True Range (ATR) for Impinj Inc. is set at 1.73, with the Price to Sales ratio for PI stock in the period of the last 12 months amounting to 3.47. The Price to Book ratio for the last quarter was 4.82, with the Price to Cash per share for the same quarter was set at 5.52. Price to Free Cash Flow for PI in the course of the last twelve months was 192.95 with Quick ratio for the last quarter at 5.70.

How has PI stock performed recently?

Impinj Inc. [PI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.61. With this latest performance, PI shares dropped by -10.16% in over the last four-week period, additionally sinking by -23.93% over the last 6 months – not to mention a drop of -32.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PI stock in for the last two-week period is set at 38.74, with the RSI for the last a single of trading hit 36.23, and the three-weeks RSI is set at 43.13 for Impinj Inc. [PI]. The present Moving Average for the last 50 days of trading for this stock 27.70, while it was recorded at 24.21 for the last single week of trading, and 27.04 for the last 200 days.

Impinj Inc. [PI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Impinj Inc. [PI] shares currently have an operating margin of -14.17 and a Gross Margin at +48.42. Impinj Inc.’s Net Margin is presently recorded at -15.04.

Return on Total Capital for PI is now -13.50, given the latest momentum, and Return on Invested Capital for the company is -14.79. Return on Equity for this stock declined to -20.60, with Return on Assets sitting at -12.77. When it comes to the capital structure of this company, Impinj Inc. [PI] has a Total Debt to Total Equity ratio set at 58.63. Additionally, PI Total Debt to Total Capital is recorded at 36.96, with Total Debt to Total Assets ending up at 34.14. Long-Term Debt to Equity for the company is recorded at 55.72, with the Long-Term Debt to Total Capital now at 35.13.

Reflecting on the efficiency of the workforce at the company, Impinj Inc. [PI] managed to generate an average of -$84,511 per employee. Receivables Turnover for the company is 7.24 with a Total Asset Turnover recorded at a value of 0.85.Impinj Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.70 and a Current Ratio set at 7.20.

Earnings analysis for Impinj Inc. [PI]

With the latest financial reports released by the company, Impinj Inc. posted 0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 900.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Impinj Inc. go to 10.00%.

Insider trade positions for Impinj Inc. [PI]

There are presently around $476 million, or 85.60% of PI stock, in the hands of institutional investors. The top three institutional holders of PI stocks are: SYLEBRA CAPITAL LTD with ownership of 4,397,337, which is approximately 3.917% of the company’s market cap and around 1.80% of the total institutional ownership; TORONADO PARTNERS, LLC, holding 1,549,823 shares of the stock with an approximate value of $38.23 million in PI stocks shares; and CHEVY CHASE TRUST HOLDINGS, INC., currently with $31.17 million in PI stock with ownership of nearly 18.732% of the company’s market capitalization.

Positions in Impinj Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 87 institutional holders increased their position in Impinj Inc. [NASDAQ:PI] by around 4,002,412 shares. Additionally, 67 investors decreased positions by around 3,558,435 shares, while 21 investors held positions by with 11,726,050 shares. The mentioned changes placed institutional holdings at 19,286,897 shares, according to the latest SEC report filing. PI stock had 28 new institutional investments in for a total of 898,648 shares, while 34 institutional investors sold positions of 2,552,028 shares during the same period.

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