Impinj Inc (PI) PT Lowered to $168 at Needham

Needham analyst James Ricchiuti lowered the price target on Impinj Inc (NASDAQ: PI) to $168.00 (from $175.00) while maintaining a Buy rating.

The analyst comments "PI provided a better Q3 outlook after delivering Q2 results that were above the high-end of guidance. The positive tone suggests a solid finish to 2026, even after normal seasonality in Q4. More important, we believe the growth drivers in general merchandise, logistics/3PL and food, along with continued encouraging trends in the broader endpoint IC apparel market, provide a good setup entering 2027. Q2 revenues were up 11% y/o/y, vs. Street +6.9%, with adj. EBITDA coming in 5% above consensus. PI guided for Q3 revenues to be up 11% at the midpoint of the range, ahead of consensus +2.4%, along with stronger-than-expected adj. EBITDA. We're adjusting our 2H’26 revenue and adj. EBITDA estimates. Reaffirm Buy."

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