Impinj (NASDAQ:PI) Issues 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.

Impinj Price Performance

Impinj stock traded down $8.73 during mid-day trading on Friday, hitting $146.82. 1,058,801 shares of the company were exchanged, compared to its average volume of 413,830. Impinj has a 1-year low of $48.39 and a 1-year high of $156.41. The company has a market capitalization of $4.06 billion, a PE ratio of -416.97 and a beta of 2.05. 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 business has a fifty day moving average of $118.27 and a 200 day moving average of $94.35.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. The business 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 81.75% and a negative net margin of 1.90%. As a group, sell-side analysts expect that Impinj will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler reaffirmed an overweight rating and issued a $150.00 price target (up from $130.00) on shares of Impinj in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Impinj from $130.00 to $156.00 and gave the stock a buy rating in a research note on Friday. Susquehanna increased their price target on shares of Impinj from $130.00 to $140.00 and gave the company a positive rating in a research report on Tuesday. Needham & Company LLC upped their price objective on shares of Impinj from $130.00 to $160.00 and gave the stock a buy rating in a report on Thursday. Finally, StockNews.com upgraded shares of Impinj to a sell rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $132.89.

Insiders Place Their Bets

In related news, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.23, for a total value of $1,062,300.00. Following the completion of the sale, the insider now directly owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Cathal G. Phelan sold 2,556 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $98.88, for a total transaction of $252,737.28. Following the completion of the sale, the insider now owns 24,990 shares of the company’s stock, valued at $2,471,011.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.23, for a total value of $1,062,300.00. Following the transaction, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock valued at $12,767,674 over the last three months. 17.10% of the stock is owned by company 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.