What Happened?
Shares of RFID manufacturer Impinj (NASDAQ: PI) jumped 6.2% in the afternoon session after Barclays initiated coverage on the company with an "Overweight" rating and a $200 price target. The new analysis came from Barclays analyst Guy Hardwick. An "Overweight" rating suggests that the analyst expects the stock to perform better than the average stock in its sector or market. This initiation of coverage by a major financial firm provided a new, positive perspective on the company, which likely boosted investor confidence in the stock's future prospects.
Is now the time to buy Impinj? Access our full analysis report here.
What Is The Market Telling Us
Impinj’s shares are very volatile and have had 28 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 2 days ago when the stock gained 5.5% on the news that Cantor Fitzgerald raised its price target on the stock to $217 from $158 while maintaining an Overweight rating. The research firm cited strong business demand for the company's endpoint ICs, which are small integrated circuits, and systems as key drivers for the decision. This outlook prompted the analysts to increase their revenue and earnings estimates for the third quarter of 2025, as well as for the full years 2025 and 2026. The firm also noted that Impinj refinanced a portion of its outstanding debt during the third quarter, an action that provided the company with greater financial flexibility.
Impinj is up 40% since the beginning of the year, but at $205.46 per share, it is still trading 13.9% below its 52-week high of $238.58 from October 2024. Investors who bought $1,000 worth of Impinj’s shares 5 years ago would now be looking at an investment worth $6,890.
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