Sequans Communications reports second quarter revenue flat at $8.1 million
Investing.com - Piper Sandler raised its price target on Impinj Inc (NASDAQ:PI) to $140 from $100 while maintaining an Overweight rating ahead of the company’s earnings report scheduled for July 30. Currently trading at $114.51, the stock sits within the broader analyst target range of $115-$145. According to InvestingPro analysis, the stock appears overvalued based on its proprietary Fair Value model.
The research firm cited positive readthroughs from key inlay partner Avery Dennison (NYSE:AVY)’s recent earnings call. Avery Dennison serves as an important partner for Impinj’s endpoint IC business, which represented approximately 83% of Impinj’s total revenues in the previous quarter. This partnership has contributed to Impinj’s impressive 21.8% revenue growth over the last twelve months, with InvestingPro data showing the company maintains a healthy 51.7% gross margin.
Piper Sandler noted that while Avery Dennison’s retail sales in their intelligent labeling segment declined mid-single digits year-over-year, their food, logistics, and other categories collectively grew at mid-single digit rates. This trend appears favorable for Impinj’s growth prospects in emerging end markets.
The firm also highlighted that despite ongoing uncertainty around tariffs, Avery Dennison indicated that planned rollouts remain on track for the year. Piper Sandler views this as positive for Impinj given the company’s enterprise platform strategy.
Impinj specializes in RAIN RFID solutions that connect items to the digital world, with applications across retail, supply chain, manufacturing, and other industries. While the company currently operates at a moderate debt level, InvestingPro analysis indicates a GOOD overall Financial Health score, with analysts predicting profitability this year. Discover 10+ additional exclusive insights and detailed valuation metrics with InvestingPro’s comprehensive research report.
In other recent news, Impinj Inc. reported impressive financial results for the first quarter of 2025, with both earnings per share (EPS) and revenue exceeding analyst expectations. The company achieved an EPS of $0.21, which was significantly higher than the anticipated $0.09, and reported revenue of $74.3 million, surpassing the forecast of $71.83 million. These results were driven by strong demand and unexpectedly high volumes of endpoint IC sales, although system revenue did not meet expectations. Cantor Fitzgerald maintained its Overweight rating on Impinj, keeping a consistent price target of $133.00. The favorable results were attributed to steady demand and high volumes of endpoint IC sales. Analysts at Cantor Fitzgerald had initially estimated a lower EPS of $0.08, but Impinj’s performance exceeded both Cantor’s and FactSet’s consensus estimates.
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