Piper Sandler cuts Impinj stock price target to $140

In his statement, Kumar expressed confidence in the company’s prospects, stating, "We are buyers of shares of PI on the miss from December quarter earnings... We feel that the bottom has been set in with this miss. We reiterate OW and reduce our PT to $140." This sentiment implies a belief that the current dip in Impinj’s stock price presents a buying opportunity for investors.The revised price target of $140 reflects a significant reduction from the prior target, yet the Overweight rating indicates that Piper Sandler still views Impinj stock as a favorable investment with the potential for higher returns compared to the overall market. Based on InvestingPro’s Fair Value analysis, the stock currently appears overvalued, though eight analysts have recently revised their earnings expectations upward for the upcoming period. Based on InvestingPro’s Fair Value analysis, the stock currently appears overvalued, though eight analysts have recently revised their earnings expectations upward for the upcoming period.

In his statement, Kumar expressed confidence in the company’s prospects, stating, "We are buyers of shares of PI on the miss from December quarter earnings... We feel that the bottom has been set in with this miss. We reiterate OW and reduce our PT to $140." This sentiment implies a belief that the current dip in Impinj’s stock price presents a buying opportunity for investors.The revised price target of $140 reflects a significant reduction from the prior target, yet the Overweight rating indicates that Piper Sandler still views Impinj stock as a favorable investment with the potential for higher returns compared to the overall market. Based on InvestingPro’s Fair Value analysis, the stock currently appears overvalued, though eight analysts have recently revised their earnings expectations upward for the upcoming period.

In his statement, Kumar expressed confidence in the company’s prospects, stating, "We are buyers of shares of PI on the miss from December quarter earnings... We feel that the bottom has been set in with this miss. We reiterate OW and reduce our PT to $140." This sentiment implies a belief that the current dip in Impinj’s stock price presents a buying opportunity for investors.The revised price target of $140 reflects a significant reduction from the prior target, yet the Overweight rating indicates that Piper Sandler still views Impinj stock as a favorable investment with the potential for higher returns compared to the overall market. Based on InvestingPro’s Fair Value analysis, the stock currently appears overvalued, though eight analysts have recently revised their earnings expectations upward for the upcoming period.

In his statement, Kumar expressed confidence in the company’s prospects, stating, "We are buyers of shares of PI on the miss from December quarter earnings... We feel that the bottom has been set in with this miss. We reiterate OW and reduce our PT to $140." This sentiment implies a belief that the current dip in Impinj’s stock price presents a buying opportunity for investors.

The revised price target of $140 reflects a significant reduction from the prior target, yet the Overweight rating indicates that Piper Sandler still views Impinj stock as a favorable investment with the potential for higher returns compared to the overall market.

In other recent news, Impinj, a semiconductor device company, has maintained its expected fourth-quarter revenue and adjusted EBITDA guidance. The company’s projected revenue is anticipated to fall within the previously stated range of $91 million to $94 million, with adjusted EBITDA expected to be between $13.6 million and $15.1 million. These figures align with analysts’ predictions, who forecasted a revenue of approximately $93 million and adjusted EBITDA of $15 million, according to data compiled by Bloomberg.

Impinj also affirmed these projections ahead of its participation in the 27th Annual Needham Growth Conference, where the company’s CEO and CFO will engage in a fireside chat. Furthermore, Impinj disclosed its schedule for releasing comprehensive financial results for both the fourth quarter and the full year of 2024, which is due after the U.S. markets close on a future date. The company highlighted that these preliminary figures are still under review and that the final audited results could vary, pending audit by their independent accounting firm. These are the recent developments concerning Impinj.

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