Wednesday, January 27, 2021

For Impinj Inc. [PI], Analyst sees a rise to $46. What next?

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Impinj Inc. [NASDAQ: PI] traded at a high on 01/11/21, posting a 27.45 gain after which it closed the day’ session at $54.70. The company report on January 11, 2021 that Impinj Announces Preliminary Fourth-Quarter 2020 Revenue Ahead of Participation at 23rd Annual Needham Virtual Growth Conference.

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Impinj, Inc. (NASDAQ: PI), a leading provider and pioneer of RAIN RFID solutions, announced that it expects preliminary fourth quarter 2020 revenue to exceed $36.0 million, above its prior guidance of $26.5 – 28.5 million.


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The company also announced that Chris Diorio, Impinj co-founder and CEO, and Cary Baker, Impinj CFO, will participate in a fireside chat at the Needham Virtual Growth Conference:.

The results of the trading session contributed to over 1960901 shares changing hands. Over the past one week, the price volatility of Impinj Inc. stands at 10.23% while the volatility over the past one month is 6.84%.

The market cap for PI stock reached $1.32 billion, with 22.93 million shares outstanding and 21.73 million shares in the current float. Compared to the average trading volume of 250.58K shares, PI reached a trading volume of 1960901 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 $41.00 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 1.90. 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.

Goldman have made an estimate for Impinj Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 30, 2020. While these analysts kept the previous recommendation, Needham raised their target price from $25 to $34. The new note on the price target was released on July 10, 2020, representing the official price target for Impinj Inc. stock. Previously, the target price had yet another drop from $33 to $19, while Needham kept a Buy rating on PI stock.

The Average True Range (ATR) for Impinj Inc. is set at 3.30, with the Price to Sales ratio for PI stock in the period of the last 12 months amounting to 9.22. The Price to Book ratio for the last quarter was 11.47, with the Price to Cash per share for the same quarter was set at 4.35.

How has PI stock performed recently?

Impinj Inc. [PI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 32.56. With this latest performance, PI shares gained by 35.03% in over the last four-week period, additionally plugging by 93.83% over the last 6 months – not to mention a rise of 92.20% 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 74.97, with the RSI for the last a single of trading hit 78.56, and the three-weeks RSI is set at 72.70 for Impinj Inc. [PI]. The present Moving Average for the last 50 days of trading for this stock 38.30, while it was recorded at 46.23 for the last single week of trading, and 28.58 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 6.40 and a Current Ratio set at 8.40.

Earnings analysis for Impinj Inc. [PI]

With the latest financial reports released by the company, Impinj Inc. posted 0.03/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. 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 $849 million, or 89.70% 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 0% of the company’s market cap and around 2.20% of the total institutional ownership; CHEVY CHASE TRUST HOLDINGS, INC., holding 1,714,419 shares of the stock with an approximate value of $73.58 million in PI stocks shares; and TORONADO PARTNERS, LLC, currently with $62.58 million in PI stock with ownership of nearly -3.943% of the company’s market capitalization.

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Positions in Impinj Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 65 institutional holders increased their position in Impinj Inc. [NASDAQ:PI] by around 2,667,933 shares. Additionally, 67 investors decreased positions by around 1,779,219 shares, while 27 investors held positions by with 15,341,954 shares. The mentioned changes placed institutional holdings at 19,789,106 shares, according to the latest SEC report filing. PI stock had 18 new institutional investments in for a total of 660,265 shares, while 30 institutional investors sold positions of 874,951 shares during the same period.

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