Canaccord analyst T. Michael Walkley raised his price target for Impinj to $35 from $31 and maintained a Buy rating after the company reported "strong" Q1 results with record Q1 revenue of $33.1M versus his $31M estimate and adjusted EBITDA of ($1.7M). With data from the recent RAIN Alliance meetings suggesting 23% annual growth to 15.4B RFID tags sold in 2018 with forecasts for 20B tags sold by 2020, Walkley tells investors in a research note that his belief the long-term growth for RAIN RFID adoption remains strong and is increasingly confident in our Impinj model estimates that assume annual industry endpoint growth of 15%-20%. Given the long-term market growth opportunities, he believes Impinj will benefit from an increasing mix of higher margin fixed reader and software sales longer term.

Lake Street raised the firm's price target on Impinj to $155 from $118 and keeps a Buy rating on the shares after the company reported better than expected revenue, AEBITDA, and EPS results as momentum experienced in Q4 continued in Q1. While "the big headline guidance stands out the most, we think investors should not lose sight of the strong upside results and the fact guidance was still above estimates when excluding the license payment," says the analyst, who continues to think Impinj is positioned to drive meaningful top and bottom line growth this year and next.

Roth MKM analyst Scott Searle raised the firm's price target on Impinj to $145 from $125 and keeps a Buy rating on the shares after its Q1 earnings beat. The ongoing adoption of RFID continues with key 2024 customer deployments on track, the analyst tells investors in a research note. The firm is also raising its estimates on the stock due in part to endpoint IC recovery and market growth, though it also expects the early aftermarket stock pop to wane upon digestion of the upside contribution, Roth MKM added.

Susquehanna analyst Christopher Rolland raised the firm's price target on Impinj (PI) to $150 from $140 and keeps a Positive rating on the shares. The firm said they posted a solid print with additional upside driven by the licensing win from NXP Semiconductors (NXPI). Customer engagements and new RFID markets continue to broaden the opportunity.

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