Impinj (NASDAQ:PI) Releases Q2 Earnings Guidance

Impinj (NASDAQ:PI) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.72-$0.77 for the period, compared to the consensus estimate of $0.19. The company issued revenue guidance of $96.0-$99.0 million, compared to the consensus revenue estimate of $79.04 million. Impinj also updated its Q2 2024 guidance to 0.720-0.770 EPS.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PI shares. StockNews.com upgraded shares of Impinj to a sell rating in a research note on Friday, February 9th. The Goldman Sachs Group boosted their price objective 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. Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective for the company. Canaccord Genuity Group lifted their target price on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a report on Thursday, March 14th. Finally, Needham & Company LLC lifted their target price on shares of Impinj from $130.00 to $160.00 and gave the company a buy rating in a report on Thursday. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat.com, Impinj has an average rating of Moderate Buy and an average price target of $128.33.

Impinj Price Performance

Shares of Impinj stock traded up $30.89 on Thursday, hitting $151.80. The company’s stock had a trading volume of 1,973,518 shares, compared to its average volume of 391,186. Impinj has a 52-week low of $48.39 and a 52-week high of $155.91. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The firm has a fifty day moving average price of $117.29 and a 200-day moving average price of $93.92. The company has a market capitalization of $4.20 billion, a P/E ratio of -89.12 and a beta of 2.05.

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

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 1,062 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the transaction, the chief financial officer now owns 67,384 shares of the company’s stock, valued at approximately $8,598,872.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Cary Baker sold 1,062 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82. Following the completion of the sale, the chief financial officer now owns 67,384 shares of the company’s stock, valued at approximately $8,598,872.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Hussein Mecklai sold 435 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25. Following the sale, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,185 shares of company stock worth $12,767,674. Corporate insiders own 17.10% 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.