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Impinj Inc (NASDAQ:PI), a leading provider of RAIN RFID solutions with a market capitalization of $2.55 billion, saw its stock price touch a 52-week low of $89.41, significantly down from its peak of $239.88. According to InvestingPro analysis, analysts maintain price targets ranging from $129 to $160, suggesting potential upside despite current market conditions. Over the past year, Impinj’s stock has experienced a notable decline, with year-to-date returns showing a steeper decrease of -33.46%. This downturn comes amidst a challenging period for tech stocks, which have been facing headwinds due to various economic factors. Investors are closely monitoring the company’s performance and future outlook as Impinj navigates through these market conditions. InvestingPro subscribers have access to 16 additional investment tips and comprehensive analysis through the Pro Research Report, offering deeper insights into Impinj’s valuation and growth prospects.
In other recent news, Impinj Inc reported its fourth-quarter earnings per share (EPS) at $0.48, surpassing analyst expectations of $0.40. However, the company’s revenue for the quarter was slightly below projections, coming in at $91.6 million compared to the anticipated $92.76 million. Looking ahead, Impinj’s guidance for the first quarter of 2025 has raised concerns, with EPS estimates ranging from $0.06 to $0.11, significantly below the consensus of $0.42. Revenue forecasts also fell short, with projections between $70 million and $73 million, against an expected $93.3 million.
This outlook suggests a potential year-over-year revenue decline of 5%-9%. In response, Needham analysts lowered Impinj’s stock price target to $130 from $182, while maintaining a Buy rating, citing a multi-year RFID adoption cycle as a positive long-term prospect. Piper Sandler also adjusted its price target to $140 from $235, keeping an Overweight rating, and expressed optimism about Impinj’s inventory resolution strategy. The company has acknowledged challenges in the first quarter but remains committed to leveraging its competitive advantages.
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