Impinj (PI) Stock Forecast & Price Target

Impinj Inc. reported a 1% year-over-year increase in revenue to $92.8 million for the quarter, aligning closely with guidance expectations, and demonstrating stability in the order book alongside significant year-over-year growth in turns business. The company also noted a robust performance in the core apparel market, highlighted by a greater than 50% increase in turn orders year-over-year, indicating a normalizing order rescheduling behavior and a nearly fully booked endpoint Integrated Circuit (IC) business for the quarter. Looking ahead, Impinj is expected to experience strong growth in 2026 and 2027 across various sectors including retail and logistics, which is anticipated to enhance profitability as its business model matures.

Impinj Inc. has provided a significantly weaker outlook for Q1, primarily due to a major North American logistics customer undergoing major changes in supplier allocations while preparing to deploy a custom-built endpoint IC, leading to an anticipated high-teens decline in Endpoint IC revenue on a quarter-over-quarter basis. Additionally, the company expects its gross margins for the March quarter to decline compared to the previous quarter, influenced by annual price reductions and lower revenue against fixed costs. The projected revenue for Q1 is approximately $72.5 million, which is substantially below market expectations of $91 million, necessitating a reduction in revenue estimates and EPS forecasts for 2026.