Impinj (PI) Stock Forecast & Price Target

Impinj Inc reported a year-over-year revenue increase of 1%, reaching $92.8 million, and this performance is consistent with the company’s previous guidance, reflecting stability in its operations. The company experienced growth in its systems revenue, which rose 0.8% year-over-year, driven by a strong performance in non-recurring engineering (NRE) revenue, while the order book remained steady, indicating positive momentum. Additionally, the significant increase in turn orders by more than 50% year-over-year in January and the nearly fully booked endpoint IC business signals robust demand and positions the company for a strong growth trajectory in the upcoming years, particularly in key markets such as retail and logistics.

Impinj Inc has provided a significantly lower outlook for Q1, primarily due to substantial changes from a major North American logistics customer transitioning to a custom-built endpoint IC, which will hinder short-term revenue stream. The company anticipates a high teens percentage decline in Endpoint IC revenue and a decline in Systems revenue that is expected to exceed the seasonal average, alongside lower gross margins attributed to annual price reductions and diminished revenue against fixed costs. Additionally, the revised guidance for Q1 projects earnings per share of approximately $0.11 on $72.5 million in revenue, falling well below market expectations of $0.39 on $91 million, coupled with a downward revision of the 2026 revenue estimate to $367.8 million and a reduction in EPS forecasts.