Is Impinj Stock Built to Withstand More Downside?
Impinj (PI) stock is down 24.6% in a day. The recent slide reflects renewed concerns around Impinj’s weak Q1 2026 forecast due to inventory reductions in retail/logistics and project delays, but sharp drops like this often raise a tougher question: is the weakness temporary, or a sign of deeper cracks in the story?
Before judging its downturn reslience, let’s look at where Impinj stands today.
- Size: Impinj is a $3.4 Bil company with $360 Mil in revenue currently trading at $116.04.
- Fundamentals: Last 12 month revenue growth of 4.2% and operating margin of -0.5%.
- Liquidity: Has Debt to Equity ratio of 0.08 and Cash to Assets ratio of 0.37
- Valuation: Impinj stock is currently trading at P/E multiple of -274.6 and P/EBIT multiple of -356.4
- Has returned (median) 64.5% within a year following sharp dips since 2010. See PI Dip Buy Analysis.
These metrics point to a Weak operational performance, alongside Very High valuation – making the stock Very Unattractive. For details, see Buy or Sell PI Stock
That brings us to the key consideration for investors worried about this fall: how resilient is PI stock if markets turn south? This is where our downturn resilience framework comes in. Suppose PI stock falls another 20-30% to $81 – can investors comfortably hold on? Turns out, the stock has fared worse than the S&P 500 index during various economic downturns, based on (a) how much the stock fell and, (b) how quickly it recovered. Below, we dive deeper into each such downturn.
2022 Inflation Shock
- PI stock fell 65.2% from a high of $141.40 on 19 April 2023 to $49.23 on 3 October 2023 vs. a peak-to-trough decline of 25.4% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 25 April 2024
- Since then, the stock increased to a high of $241.91 on 29 October 2025 , and currently trades at $116.04
| PI | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -65.2% | -25.4% |
| Time to Full Recovery | 205 days | 464 days |
2020 Covid Pandemic
- PI stock fell 64.5% from a high of $35.74 on 23 January 2020 to $12.68 on 18 March 2020 vs. a peak-to-trough decline of 33.9% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 24 November 2020
| PI | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -64.5% | -33.9% |
| Time to Full Recovery | 251 days | 148 days |
2018 Correction
- PI stock fell 81.4% from a high of $59.37 on 26 June 2017 to $11.07 on 16 February 2018 vs. a peak-to-trough decline of 19.8% for the S&P 500.
- However, the stock fully recovered to its pre-Crisis peak by 21 January 2021
| PI | S&P 500 | |
|---|---|---|
| % Change from Pre-Recession Peak | -81.4% | -19.8% |
| Time to Full Recovery | 1,070 days | 120 days |
Feeling jittery about PI stock? Consider portfolio approach.
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Individual stocks are unpredictable. A smart portfolio helps you invest, limits downside shocks, and provides upside exposure
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