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In a challenging market environment, Impinj Inc (NASDAQ:PI) stock has reached its 52-week low, trading at $84.15, marking a steep decline of 57% over the past six months. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $129 to $160. The company, known for its Radio-Frequency Identification (RFID) solutions, has faced significant headwinds over the past year, reflected in a substantial 1-year change with a decline of -31.3%. Despite these challenges, Impinj maintains a healthy 51.6% gross margin and achieved 19% revenue growth in the last twelve months. Investors have shown concern as the stock struggles to regain momentum amidst broader economic pressures and industry-specific challenges. The current price level marks a critical point for Impinj, as stakeholders closely monitor its performance for signs of recovery or further decline. InvestingPro subscribers can access 14 additional investment tips and a comprehensive analysis of Impinj’s financial health, which currently rates as "GOOD" based on multiple factors.
In other recent news, Impinj reported fourth-quarter earnings per share of $0.48, surpassing analyst expectations of $0.40. However, the company’s revenue for the same period was slightly below forecasts, coming in at $91.6 million against the anticipated $92.76 million. Looking ahead, Impinj’s guidance for the first quarter of 2025 has raised concerns, with projected earnings per share between $0.06 and $0.11, significantly lower than the consensus estimate of $0.42. Revenue forecasts for the quarter are also below expectations, ranging from $70 million to $73 million, compared to the expected $93.3 million.
Analysts have reacted to these developments with mixed responses. Piper Sandler reduced its price target for Impinj to $140 from $235, maintaining an Overweight rating, while Needham adjusted its target to $130 from $182, holding a Buy rating. Both firms cited inventory challenges and a lack of near-term catalysts as reasons for their revised targets. Despite these hurdles, analysts remain optimistic about Impinj’s long-term potential, particularly in the grocery sector. The company’s management has expressed confidence in navigating current challenges and capitalizing on growth opportunities in the RFID market.
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