Impinj (NASDAQ:PI) Updates Q4 2024 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.450-0.490 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 $90.1 million. Impinj also updated its Q4 guidance to $0.45-$0.49 EPS.

Impinj Trading Up 4.4 %

Impinj stock traded up $8.49 during trading on Friday, reaching $200.70. The company had a trading volume of 1,097,652 shares, compared to its average volume of 469,581. The firm’s 50-day simple moving average is $196.40 and its 200 day simple moving average is $168.96. Impinj has a 52 week low of $58.56 and a 52 week high of $239.88. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue was up 46.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.36) earnings per share. On average, analysts predict that Impinj will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

PI has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday. Cantor Fitzgerald raised their target price on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up from $205.00) on shares of Impinj in a research report on Thursday. Roth Mkm boosted their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Susquehanna raised their price target on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average price target of $224.60.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 488 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.84, for a total transaction of $116,065.92. Following the sale, the executive now directly owns 65,294 shares of the company’s stock, valued at $15,529,524.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the sale, the chief financial officer now directly owns 71,096 shares in the company, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jeffrey Dossett sold 488 shares of Impinj stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the completion of the transaction, the executive now owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 over the last three months. Company insiders own 51.00% of the company’s stock.

About Impinj

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.