Impinj (NASDAQ:PI) Releases Q3 2024 Earnings Guidance

Impinj (NASDAQ:PI) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.460-0.500 for the period, compared to the consensus estimate of 0.400. The company issued revenue guidance of $91.0 million-$94.0 million, compared to the consensus revenue estimate of $90.3 million. Impinj also updated its Q3 guidance to $0.46-0.50 EPS.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PI shares. StockNews.com cut Impinj from a hold rating to a sell rating in a report on Tuesday, May 21st. The Goldman Sachs Group cut Impinj from a buy rating to a neutral rating and set a $156.00 price objective for the company. in a report on Monday, May 20th. Cantor Fitzgerald reiterated an overweight rating and issued a $205.00 price objective on shares of Impinj in a report on Thursday. Jefferies Financial Group assumed coverage on Impinj in a report on Monday, May 13th. They issued a buy rating and a $200.00 price objective for the company. Finally, Evercore ISI raised their target price on Impinj from $172.00 to $205.00 and gave the company an outperform rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj has an average rating of Moderate Buy and a consensus target price of $187.10.

Impinj Stock Up 4.4 %

Shares of Impinj stock traded up $6.72 on Thursday, reaching $159.27. The company’s stock had a trading volume of 1,420,397 shares, compared to its average volume of 438,173. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -456.34 and a beta of 1.78. The firm’s fifty day simple moving average is $161.16 and its two-hundred day simple moving average is $133.22. Impinj has a 52 week low of $48.39 and a 52 week high of $181.88. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Impinj’s revenue was up 19.2% compared to the same quarter last year. Equities analysts anticipate that Impinj will post 0.04 earnings per share for the current year.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 26,661 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $147.02, for a total value of $3,919,700.22. Following the transaction, the chief executive officer now directly owns 286,230 shares in the company, valued at $42,081,534.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Chris Ph.D. Diorio sold 26,661 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $147.02, for a total value of $3,919,700.22. Following the sale, the chief executive officer now directly owns 286,230 shares in the company, valued at $42,081,534.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Umesh Padval sold 3,475 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $151.39, for a total value of $526,080.25. Following the completion of the sale, the director now owns 3,529 shares in the company, valued at $534,255.31. The disclosure for this sale can be found here. Insiders have sold 1,097,971 shares of company stock worth $167,900,777 over the last ninety days. Corporate insiders own 51.00% of the company’s stock.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.