Impinj (NASDAQ:PI) Issues Q2 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.72-$0.77 for the period, compared to the consensus earnings per share 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

NASDAQ PI traded down $2.77 on Wednesday, reaching $120.91. The company’s stock had a trading volume of 810,405 shares, compared to its average volume of 371,715. Impinj has a twelve month low of $48.39 and a twelve month high of $139.46. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. The firm’s 50 day moving average is $116.94 and its two-hundred day moving average is $93.73. The stock has a market cap of $3.34 billion, a PE ratio of -74.64 and a beta of 2.05.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. The company had revenue of $70.65 million during the quarter, compared to the consensus estimate of $67.10 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. As a group, sell-side analysts predict that Impinj will post -0.62 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PI. Evercore ISI initiated coverage on shares of Impinj in a research report on Tuesday, April 16th. They issued an outperform rating and a $160.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research note on Friday, February 9th. Roth Mkm lifted their price objective on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research report on Thursday, March 14th. Susquehanna boosted their target price on Impinj from $130.00 to $140.00 and gave the company a positive rating in a research note on Tuesday. Finally, Canaccord Genuity Group raised their price target on Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $120.56.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 20,000 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the transaction, the chief financial officer now owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Cary Baker sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the transaction, the chief financial officer now directly owns 55,432 shares in the company, valued at $5,661,824.48. The disclosure for this sale can be found here. Insiders have sold 120,185 shares of company stock valued at $12,767,674 in the last 90 days. 17.10% of the stock is currently 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.