Needham Reiterates a Buy Rating on IMPINJ Inc

By Ryan Adsit

In a report released today, James Ricchiuti from Needham reiterated a Buy rating on IMPINJ Inc (NASDAQ: PI), with a price target of $40. The company’s shares closed yesterday at $35.36.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 11.2% and a 62.1% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies Inc, Electronics for Imaging, and Samsung Electronics.

IMPINJ Inc has an analyst consensus of Moderate Buy, with a price target consensus of $38.50.

Based on IMPINJ Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $31.01 million and quarterly net profit of $808K. In comparison, last year the company earned revenue of $22.63 million and had a net profit of $818K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.