RBC Capital Reiterates Bullish View on Impinj (PI) Amid Strong Growth
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- Deutsche Bank Downgrades MGM Growth Properties (MGP) to Hold
- Deutsche Bank Starts Verisk Analytics (VRSK) at Hold
- Cowen Downgrades Nike (NKE) to Neutral; Sees Lower Guidance
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!