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Investing.com - Needham has raised its price target on Impinj Inc (NASDAQ:PI) to $165.00 from $115.00 while maintaining a Buy rating following the company’s second-quarter earnings report. According to InvestingPro data, analyst targets now range from $115 to $175, with the stock currently trading at $122.21.
The radio-frequency identification (RFID) solutions provider reported a 4% year-over-year revenue decline in Q2, which exceeded Wall Street expectations of an 8.5% decline despite mixed conditions in retail apparel and logistics end markets.
Impinj guided for third-quarter revenues to decrease 2.5% year-over-year at the midpoint, a better outlook than the consensus expectation of a 10% decline, with normal seasonal strength expected in the quarter.
The company continues to secure new customer wins and benefit from new use cases, driven by demand for its M800 endpoint IC family and Gen2x technology, with Q2 book-to-bill ratio for endpoint ICs reported as strong.
Needham cited Impinj’s strong execution and expectations for a multi-year RFID adoption cycle as key factors behind its decision to increase both 2025 and 2026 estimates for the company.
In other recent news, Impinj Inc. reported its second-quarter 2025 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $0.80, compared to the anticipated $0.71. The company also reported a revenue of $97.9 million, surpassing the forecast of $93.75 million. These results reflect a 12.68% surprise in EPS, which is a positive development for the company. The earnings announcement was followed by an after-hours stock price increase, although specific stock movements are not the focus here. There are no additional updates on mergers or acquisitions for Impinj at this time. Analyst upgrades or downgrades were not mentioned in the recent developments. Other company news was not highlighted in the latest reports.
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