Impinj (NASDAQ:PI) Releases Q2 Earnings Guidance

Impinj (NASDAQ:PI) updated its second quarter earnings guidance on Wednesday. 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.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Canaccord Genuity Group increased their price target on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Piper Sandler reiterated an overweight rating and issued a $150.00 price target (up from $130.00) on shares of Impinj in a research note on Thursday. StockNews.com upgraded shares of Impinj from a sell rating to a hold rating in a research note on Friday. Evercore ISI started coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an outperform rating and a $160.00 price target on the stock. Finally, Susquehanna raised their target price on shares of Impinj from $130.00 to $140.00 and gave the stock a positive rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $132.89.

Impinj Price Performance

NASDAQ:PI traded down $4.64 during midday trading on Friday, reaching $150.91. The stock had a trading volume of 1,648,000 shares, compared to its average volume of 395,377. The firm has a fifty day simple moving average of $119.23 and a two-hundred day simple moving average of $95.02. Impinj has a 12-month low of $48.39 and a 12-month high of $156.41. The company has a debt-to-equity ratio of 3.29, a quick ratio of 5.59 and a current ratio of 9.42.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, sell-side analysts predict that Impinj will post -0.62 earnings per share for the current year.

Insider Activity at Impinj

In other Impinj news, insider Cathal G. Phelan sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was 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 owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Cathal G. Phelan sold 2,556 shares of Impinj stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $98.88, for a total transaction of $252,737.28. Following the completion of the transaction, the insider now owns 24,990 shares of the company’s stock, valued at approximately $2,471,011.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cathal G. Phelan sold 10,000 shares of Impinj 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 owns 21,750 shares of the company’s stock, valued at approximately $2,310,502.50. The disclosure for this sale can be found here. Insiders have sold a total of 120,185 shares of company stock worth $12,767,674 in the last three months. Insiders own 17.10% of the company’s stock.

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.