Impinj, Inc. (NASDAQ:PI) Expected to Post Quarterly Sales of $47.35 Million

Brokerages expect Impinj, Inc. (NASDAQ:PI) to announce sales of $47.35 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Impinj’s earnings, with the highest sales estimate coming in at $47.70 million and the lowest estimate coming in at $47.00 million. Impinj posted sales of $36.45 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.9%. The company is scheduled to report its next earnings results on Wednesday, February 9th.

According to Zacks, analysts expect that Impinj will report full year sales of $185.05 million for the current fiscal year, with estimates ranging from $184.70 million to $185.40 million. For the next financial year, analysts forecast that the business will post sales of $223.20 million, with estimates ranging from $221.90 million to $224.50 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Impinj.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 27th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.06. Impinj had a negative net margin of 26.97% and a negative return on equity of 43.37%. The company had revenue of $45.19 million during the quarter, compared to analysts’ expectations of $44.13 million. During the same period last year, the business earned ($0.54) EPS. Impinj’s revenue for the quarter was up 60.3% on a year-over-year basis.

Several equities analysts recently issued reports on PI shares. Piper Sandler reiterated a “buy” rating and issued a $75.00 target price on shares of Impinj in a research note on Wednesday, September 29th. Canaccord Genuity boosted their target price on shares of Impinj from $75.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 17th. Roth Capital boosted their target price on shares of Impinj from $68.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, October 28th. Colliers Securities reiterated a “buy” rating and issued a $82.00 target price on shares of Impinj in a research note on Friday, October 22nd. Finally, Needham & Company LLC boosted their target price on shares of Impinj from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $69.78.

In other Impinj news, Director Sylebra Capital Ltd sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $78.25, for a total value of $78,250,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 592 shares of the company’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $72.39, for a total transaction of $42,854.88. The disclosure for this sale can be found here. Insiders sold 1,055,319 shares of company stock valued at $82,385,310 in the last three months. 24.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of PI. Advisory Services Network LLC acquired a new stake in shares of Impinj during the second quarter worth about $26,000. Captrust Financial Advisors increased its stake in shares of Impinj by 144.8% during the first quarter. Captrust Financial Advisors now owns 612 shares of the company’s stock worth $35,000 after buying an additional 362 shares during the period. Vectors Research Management LLC purchased a new stake in shares of Impinj during the second quarter worth approximately $52,000. US Bancorp DE increased its stake in shares of Impinj by 33.9% during the second quarter. US Bancorp DE now owns 2,373 shares of the company’s stock worth $123,000 after buying an additional 601 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Impinj during the third quarter worth approximately $146,000. 87.49% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ PI traded up $1.17 on Thursday, hitting $77.02. 211,539 shares of the company’s stock traded hands, compared to its average volume of 268,496. Impinj has a 1-year low of $35.18 and a 1-year high of $85.13. The firm’s 50-day moving average price is $64.26 and its two-hundred day moving average price is $54.83. The firm has a market capitalization of $1.88 billion, a PE ratio of -38.90 and a beta of 2.34.

About Impinj

IImpinj, Inc engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain and logistics, hospitality, food and beverage, and industrial manufacturing industries.

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