IMPINJ Inc Receives a Buy from RBC Capital

By Carrie Williams

RBC Capital analyst Mitch Steves reiterated a Buy rating on IMPINJ Inc (NASDAQ: PI) yesterday and set a price target of $40. The company’s shares opened today at $33.06.

According to TipRanks.com, Steves is a 5-star analyst with an average return of 25.1% and a 90.6% success rate. Steves covers the Technology sector, focusing on stocks such as Benchmark Electronics, Juniper Networks, and Sanmina-Sci Corp.

Currently, the analyst consensus on IMPINJ Inc is Moderate Buy and the average price target is $40, representing a 21.0% upside.

In a report released today, Needham also reiterated a Buy rating on the stock with a $40 price target.

The company has a one year high of $41.91 and a one year low of $16.36. Currently, IMPINJ Inc has an average volume of 711.8K.

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Impinj, Inc. provides ultra high frequency radio frequency identification solutions for identifying, locating and authenticating items. It develops and sales Item Intelligence products and services. Its platform connects everyday items such as apparel, medical supplies, automobile parts, rivers’ licenses, food, and luggage to applications. It’s applications includes inventory management, patient safety, asset tracking and item authentication, delivering real time information to businesses about items created, manage, transport, and sell. The company was founded by Carver Mead and Chris Diorio in April 2000 and is headquartered in Seattle, WA.