Impinj (NASDAQ:PI) Releases Q2 2024 Earnings Guidance

Impinj (NASDAQ:PI) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.720-0.770 for the period, compared to the consensus estimate of 0.190. The company issued revenue guidance of $96.0 million-$99.0 million, compared to the consensus revenue estimate of $78.9 million. Impinj also updated its Q2 guidance to $0.72-$0.77 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. The Goldman Sachs Group upped their price target on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research report on Friday, February 9th. StockNews.com raised shares of Impinj to a sell rating in a research report on Friday, February 9th. Needham & Company LLC upped their price target on shares of Impinj from $130.00 to $160.00 and gave the stock a buy rating in a research report on Thursday. Finally, Evercore ISI assumed coverage on shares of Impinj in a report on Tuesday, April 16th. They issued an outperform rating and a $160.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $128.33.

Impinj Trading Up 27.1 %

Shares of Impinj stock traded up $32.75 on Thursday, reaching $153.66. 2,575,191 shares of the company were exchanged, compared to its average volume of 397,717. The stock has a fifty day moving average price of $117.29 and a 200-day moving average price of $93.92. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -89.12 and a beta of 2.05. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $156.00.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. On average, analysts expect that Impinj will post -0.62 EPS for the current year.

Insider Activity

In other Impinj news, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the transaction, the chief operating officer now owns 40,489 shares in the company, valued at $4,243,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Impinj news, CFO Cary Baker sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,185 shares of company stock worth $12,767,674. 17.10% of the stock is owned by corporate insiders.

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.