PI
Impinj Inc
NASDAQ: PI · TECHNOLOGY · SEMICONDUCTORS
$153.74
-11.20% today
Updated 2026-06-05
Market cap
$4.04B
P/E ratio
—
P/S ratio
11.20x
EPS (TTM)
$-0.90
Dividend yield
—
52W range
$87 – $247
Volume
0.5M
Impinj Inc (PI) Financial Forecast & Price Target 2030
Research-backed projections from analyst consensus, management guidance, and sector analysis.
Research-backed PI price target 2030 projection accounting for share dilution, balance sheet debt, and time value of money.
Current price
$153.74
Today
Analyst consensus
$175.00
+13.83% · 12M
2030 Base
$177.01
+15.14% future
NPV today
$92.56
@ 15% WACC
9 analysts:
5 Buy3 Hold1 Sell
Management guidance
Management guided Q2 2026 revenue of $103-106M (midpoint $104.5M), implying ~$415-420M full-year 2026 revenue. CEO emphasized record endpoint IC bookings and strong demand recovery driven by Gen2X custom ASIC ramp, retailer rebuys, and expanding TAM in supply chain/logistics/food tagging. Management projects return to GAAP profitability in 2026 with sustained growth momentum through 2027-2028 driven by UPS RFID rollout, Gen2X adoption, and enterprise solutions expansion.
Sources: Management guidance, analyst consensus, sector analysishigh confidence
PI · Impinj Inc · Revenue & price projection · 2023–2030E
Actual / 2030 target Projected revenue Base case price Bull to bear range
Bear case (2030)
$85.28
NPV today: $44.60
Base case (2030)
$177.01
NPV today: $92.56
Bull case (2030)
$360.47
NPV today: $188.50
WallStSmart.com
PI financial forecast · Research-backed projections
| Metric | 2025 | 2026 (E) | 2027 (E) | 2028 (E) | 2029 (E) | 2030 (E) ★ |
|---|---|---|---|---|---|---|
| Revenue | $0.4B | $0.4B | $0.5B | $0.7B | $0.8B | $1.0B |
| Revenue growth | -1.4% | 14.9% | 30.1% | 27.6% | 22.2% | 15.8% |
| Net margin | — | 13.7% | 17.0% | 18.9% | 20.5% | 22.2% |
| EPS | $2.09 | $1.85 | $2.95 | $4.15 | $5.45 | $6.80 |
| Diluted shares | — | 31M | 31M | 31M | 32M | 32M |
| Net debt | — | $274.88M | $262.65M | $247.03M | $227.95M | $205.86M |
| P/S multiple | — | 6.0x | 6.0x | 6.0x | 6.0x | 6.0x |
| Implied price (base) | — | $71.93 | $95.73 | $123.86 | $152.50 | $177.01 |
★ 2030E is the model's terminal target year. Implied price = (Revenue × P/S − Net debt) ÷ Diluted shares.
Scenario detail · Three drivers, three outcomes
| 2030E driver | Bear | Base | Bull |
|---|---|---|---|
| Revenue | $1.0B | $1.0B | $1.0B |
| P/S multiple | 3.0x | 6.0x | 12.0x |
| Diluted shares | 32M | 32M | 32M |
| Net debt | $205.86M | $205.86M | $205.86M |
| Implied P/E † | 13x | 26x | 53x |
| 2030 Price | $85.28 | $177.01 | $360.47 |
| NPV @ 15% | $44.60 | $92.56 | $188.50 |
† Implied P/E: Multiples remain elevated across all three scenarios because PI is valued primarily on revenue scale during its growth phase, not near-term earnings power. Lower P/E in the bear case reflects multiple compression, but the absolute level stays high since 2030E still represents a hypergrowth-to-mature transition year.
EV to per-share bridge · How we get to $177.01 base case
PI catalysts and risks
Growth catalysts
+ UPS major RFID deployment ramp through 2026-2027 (hyperscaler-scale capex commitment)
+ Gen2X custom ASIC production at scale (record bookings signal demand pull-through)
+ Expansion into food/supply chain/logistics verticals (TAM expansion beyond retail)
+ Profitability inflection in 2026 (GAAP + non-GAAP margins expanding)
+ Multi-year customer commitments and extended lead time bookings (demand visibility)
Key risks
- Revenue volatility and customer concentration (Q1 2026 flat YoY despite strong bookings suggests execution risk)
- Macro/geopolitical/tariff headwinds delaying customer program rollouts (2025 inventory burn impact persisting)
- Competitive pressure and market share losses in RFID endpoint IC segment
- Working capital inefficiency and inventory management challenges (Q1 2026 net loss widened despite guidance beat)
- Valuation multiple compression if growth deceleration exceeds expectations (forward P/E 48x implies high execution bar)
Methodology · Impinj Inc 2030 stock forecast model
Impinj Inc 2030 price target is calculated using WallStSmart's research model. Revenue projections are derived from analyst consensus across 9 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts. The model is built on five core components:
| 1. Share dilution | Projected from per-ticker schedule of SBC + equity raise activity, compounding year by year (5% cumulative for PI by 2030) |
| 2. Net debt | EV minus net debt yields equity value; debt projected from capex cycle trajectory ($205.86M by 2030) |
| 3. Time value | NPV calculated using 15% WACC (CAPM: beta 1.932) |
| 4. Multiple framework | P/S compresses with scale: bear 3.0x / base 6.0x / bull 12.0x |
| 5. Scenario design | Bull/Base/Bear vary revenue, margin, shares, debt, and multiple independently |
WallStSmart research model · Not financial advice · Past performance is not indicative of future results · Last researched: May 20, 2026.
PI price target FAQ
What is the PI price target for 2030?
WallStSmart's Impinj Inc 2030 base case is $177.01 per share, with a bull case of $360.47 and bear case of $85.28. The NPV of the base case discounted to today at 15% WACC is $92.56.
How is the Impinj Inc 2030 stock forecast calculated?
The PI 2030 projection multiplies projected revenue by a growth-adjusted P/S multiple to derive enterprise value, subtracts projected net debt to get equity value, then divides by diluted shares outstanding accounting for dilution from stock-based compensation and equity raises.
Why does the PI price target account for dilution?
Impinj Inc is projected to grow diluted share count from 30M to 32M by 2030 (a 5% increase) through stock-based compensation and capital raises. Ignoring this would inflate the price target by approximately 5%.
What is the analyst consensus on PI stock?
9 analysts cover PI with an average 12-month price target of $175.00. The 2030 projection extends this framework with longer-horizon assumptions including dilution and time value of money.