Piper Jaffray downgraded Impinj Inc (NASDAQ: PI) from Overweight to Neutral with a price target of $27.50 (from $41.00).

Analyst Troy Jensen cites slowing developments and competition as key drags that drove the guidance revision. The analyst continues to believes the market remains relatively open-ended and will become more positive once evidence that growth is re-accelerating and remains sustainable becomes more apparent.

For an analyst ratings summary and ratings history on Impinj Inc click here. For more ratings news on Impinj Inc click here.

Shares of Impinj Inc closed at $32.80 yesterday.