Susquehanna's analyst, Christopher Rolland, has increased the price target for Impinj (PI, Financial) from $130 to $140, maintaining a Positive outlook for the company. This adjustment comes as part of a second-quarter review focused on the semiconductor sector. The firm anticipates Impinj to report either in line with or slightly above expectations, driven by increased demand related to tariffs and the continued strength in artificial intelligence applications. Despite this optimistic near-term outlook, the analyst notes uncertainties for the latter half of the year.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Impinj Inc (PI, Financial) is $126.43 with a high estimate of $145.00 and a low estimate of $100.00. The average target implies an upside of 8.51% from the current price of $116.51. More detailed estimate data can be found on the Impinj Inc (PI) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, Impinj Inc's (PI, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Impinj Inc (PI, Financial) in one year is $143.46, suggesting a upside of 23.13% from the current price of $116.51. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Impinj Inc (PI) Summary page.
PI Key Business Developments
Release Date: April 23, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Impinj Inc (PI, Financial) achieved higher than expected endpoint IC volumes, driving revenue and profitability above guidance.
- The company holds the #1 IC market share, capturing 85% of the industry's 2024 unit volume growth.
- Strong book-to-build ratio and solid pipeline activity indicate continued enterprise engagement.
- The M800 ramp is expected to provide a 300 basis point gross margin benefit as it becomes the volume runner.
- Impinj Inc (PI) has a strong balance sheet and operating margins, allowing for strategic investments alongside enterprise customers.
Negative Points
- First quarter revenue decreased by 19% sequentially and 3% year over year.
- Tariff and geopolitical uncertainties are causing market volatility and impacting inventory strategies.
- First quarter systems revenue declined by 25% sequentially and 15% year over year.
- Free cash flow was negative $13 million, primarily due to unfavorable working capital timing.
- The company anticipates a modest second quarter channel inventory increase due to partners building geographic optionality.
