Impinj (PI): Initating Coverage with an Overweight Rating and a $24 PT - Piper Jaffray
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Piper Jaffray analyst, Troy Jensen, initiated coverage on Impinj Inc (NASDAQ: PI) with an Overweight rating and a price target of $24.
is the leading provider of Ultra High Frequency (UHF) Radio Frequency Identification
(RFID) solutions that provide item intelligence to a variety of industries; the company has
significant exposure to the retail and healthcare industries. After years of solid growth, we
believe Impinj and the RAIN RFID market is seeing an inflection and we believe growth will
easily exceed 25-30% for the next few years. Given penetration rates in the company’s
biggest market (retail) is estimated to be ~10% and the company’s expansion into other
verticals continues to grow at a healthy clip, we feel the company is well positioned to
show impressive growth and operating margin expansion for years to come.
Shares of Impinj Inc closed at $19.97 yesterday.
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Related EntitiesPiper Jaffray, Troy Jensen
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