Impinj (NASDAQ:PI) Updates 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PI shares. Needham & Company LLC lifted their target price on Impinj from $130.00 to $160.00 and gave the stock a buy rating in a report on Thursday. Piper Sandler reissued an overweight rating and issued a $150.00 price target (up from $130.00) on shares of Impinj in a report on Thursday. Susquehanna boosted their price target on Impinj from $130.00 to $140.00 and gave the company a positive rating in a report on Tuesday. Canaccord Genuity Group boosted their price objective on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. Finally, Roth Mkm boosted their price target on Impinj from $125.00 to $145.00 and gave the stock a buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Impinj currently has an average rating of Moderate Buy and a consensus price target of $132.89.

Impinj Stock Down 5.6 %

Shares of PI traded down $8.73 during mid-day trading on Friday, reaching $146.82. The company’s stock had a trading volume of 1,058,801 shares, compared to its average volume of 413,830. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. Impinj has a 12-month low of $48.39 and a 12-month high of $156.41. The stock has a market cap of $4.06 billion, a PE ratio of -416.97 and a beta of 2.05. The company’s 50 day moving average is $118.27 and its 200 day moving average is $94.35.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate 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%. Equities analysts anticipate that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity

In related news, CFO Cary Baker sold 1,062 shares of Impinj stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $127.61, for a total value of $135,521.82. Following the sale, the chief financial officer now directly owns 67,384 shares in the company, valued at $8,598,872.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Cary Baker sold 1,062 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $127.61, for a total value of $135,521.82. Following the sale, the chief financial officer now directly owns 67,384 shares in the company, valued at $8,598,872.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jeffrey Dossett sold 4,858 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the completion of the sale, the executive now owns 57,110 shares in the company, valued at $5,774,392.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,185 shares of company stock valued at $12,767,674. Company 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.