RBC Capital Reiterates Bullish View on Impinj (PI) Amid Strong Growth
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
RBC Capital analyst Mitch Steves reiterated an Outperform rating and $37 price target on Impinj Inc (NASDAQ: PI) after the company reported a solid beat and raise quarter driven by larger than expected end-point shipments. In addition, guidance was well ahead of expectations showing continued revenue growth momentum.
Steves noted the following takeaways:
1) margins continue to expand,
2) long-term sales growth target of 25% was reiterated,
3) the balance sheet remains healthy and
4) we are still waiting for software ramps over the next several years as another upside driver. If we look at the market opportunity, we continue to see a significant number of use cases and believe that the Company is becoming a rare public IoT pure play.
Net Net: while the stock will likely remain volatile, we reiterate our Outperform rating on improving income statement dynamics
Shares of Impinj Inc closed at $25.30 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- RBC Capital Reiterates Outperform on General Electric (GE) Following 4Q
- UPDATE: BMO Capital Upgrades Williams Partners LP (WPZ) to Outperform
- UPDATE: Seaport Global Securities Upgrades Flowserve Corp. (FLS) to Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!