Analyst comments/updates:
Impinj price target lowered to $130 from $140 at Piper Sandler
Piper Sandler analyst Harsh Kumar lowered the firm's price target on Impinj to $130 from $140 and keeps an Overweight rating on the shares. The company reported a March quarter that was mixed with guidance that was clearly below expectations, the analyst tells investors in a research note. However, the firm believes the current issues impacting the flat June quarter guide are transitory in nature. Piper's confidence for growth in Q3 and Q4 "is unshaken."
Impinj price target lowered to $140 from $155 at Canaccord
Canaccord analyst T. Michael Walkley lowered the firm's price target on Impinj to $140 from $155 and keeps a Buy rating on the shares. The analyst said based on the growth potential for RAIN RFID adoption, we reiterate our rating. However, due to the timing of some large projects pushed a few months, we have lowered our estimates and reduced our price target.
Impinj price target lowered to $145 from $151 at Needham
Needham analyst James Ricchiuti lowered the firm's price target on Impinj to $145 from $151 but keeps a Buy rating on the shares. The stock was "priced for perfection" going into its Q1 results and traded sharply lower on an earnings miss, though the firm remains in the "bull camp" based on new RFID use cases by leading retailers and a major logistics customer that is putting in RFID infrastructure across its enterprise to scale later this year and next, the analyst tells investors in a research note.
Impinj pullback provides 'great entry point,' says Lake Street
Lake Street analyst Troy Jensen lowered the firm's price target on Impinj to $130 from $135 and keeps a Buy rating on the shares. Impinj reported "solid" Q1 results, but Q2 guidance was below expectations as a "handful of marquee deployments with both retail and logistics customers have slipped to the right for a few months," the analyst tells investors. The firm, which says it still views Impinj as "the best way to play the RFID market," believes the negative reaction to Q2 guidance creates "a great entry point for one of the best, open-ended growth opportunities in our coverage." |
