Impinj (NASDAQ:PI) Issues Q3 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.46-0.50 for the period, compared to the consensus estimate of $0.40. The company issued revenue guidance of $91-94 million, compared to the consensus revenue estimate of $90.38 million. Impinj also updated its Q3 2024 guidance to 0.460-0.500 EPS.

Impinj Stock Performance

Shares of NASDAQ PI traded up $6.72 during mid-day trading on Thursday, hitting $159.27. The company had a trading volume of 1,420,382 shares, compared to its average volume of 438,172. Impinj has a 12 month low of $48.39 and a 12 month high of $181.88. The firm has a market cap of $4.41 billion, a P/E ratio of -456.34 and a beta of 1.78. The business’s 50-day simple moving average is $161.16 and its 200-day simple moving average is $133.22. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The firm had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Impinj’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the business earned ($0.14) earnings per share. As a group, analysts predict that Impinj will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

PI has been the subject of a number of research analyst reports. The Goldman Sachs Group cut shares of Impinj from a buy rating to a neutral rating and set a $156.00 target price for the company. in a research note on Monday, May 20th. Jefferies Financial Group initiated coverage on shares of Impinj in a report on Monday, May 13th. They set a buy rating and a $200.00 target price for the company. Roth Mkm increased their target price on Impinj from $145.00 to $175.00 and gave the company a buy rating in a research note on Thursday. Lake Street Capital increased their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a buy rating in a report on Thursday. Finally, Susquehanna boosted their price objective on Impinj from $150.00 to $215.00 and gave the company a positive rating in a research report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $187.10.

Insider Buying and Selling

In related news, Director Umesh Padval sold 3,475 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $151.39, for a total transaction of $526,080.25. Following the transaction, the director now directly owns 3,529 shares of the company’s stock, valued at $534,255.31. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Impinj news, Director Umesh Padval sold 3,475 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $151.39, for a total value of $526,080.25. Following the transaction, the director now directly owns 3,529 shares of the company’s stock, valued at approximately $534,255.31. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Cathal G. Phelan sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $147.94, for a total transaction of $1,479,400.00. Following the transaction, the insider now owns 15,801 shares of the company’s stock, valued at $2,337,599.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,097,971 shares of company stock valued at $167,900,777. Company 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.