Impinj stock price target raised to $230 from $180 at Piper Sandler

Investing.com - Piper Sandler raised its price target on Impinj Inc (NASDAQ:PI) to $230.00 from $180.00 on Thursday, while maintaining an Overweight rating on the RFID solutions provider. The stock, currently trading at $217.19 with a market cap of $6.27 billion, has shown remarkable momentum with a 161% gain over the past six months according to InvestingPro data.

The price target increase follows Avery Dennison’s announcement of a partnership with Walmart to utilize RFID technology for labeling food products, including meat, bakery, and deli items. Piper Sandler views this development as "extremely positive" for overall RFID intelligence label adoption.

Piper Sandler expects Impinj to be a key beneficiary of this partnership, noting that Walmart has already completed two successful phases with Impinj, suggesting the company will likely be involved in implementing this next stage of RFID deployment.

The initial rollout of the Walmart-Avery Dennison RFID implementation is scheduled to begin in the fourth quarter of 2025 and continue over the following two years through 2027.

Piper Sandler anticipates this partnership will "significantly boost RFID adoption across the food industry" and expressed optimism ahead of Impinj’s upcoming earnings report next week.

In other recent news, Impinj Inc . reported its Q2 2025 financial results, revealing a revenue of $97.9 million. This figure signifies a sequential growth of 32%, though it represents a 4% decline compared to the previous year. The company achieved a record gross margin of 60.4% and an adjusted EBITDA of $27.6 million, which translates to a 28.2% margin. Additionally, Impinj announced the appointment of Arthur L. Valdez, Jr. to its board of directors. Valdez brings over three decades of experience in global supply chain and logistics operations, having previously held executive roles at Starbucks, Amazon, and Target. These developments reflect significant changes and achievements within the company.

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