Impinj (NASDAQ:PI) Releases Q3 2024 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.460-0.500 for the period, compared to the consensus estimate of 0.400. The company issued revenue guidance of $91.0 million-$94.0 million, compared to the consensus revenue estimate of $90.3 million. Impinj also updated its Q3 guidance to $0.46-0.50 EPS.

Impinj Price Performance

Impinj stock traded down $8.97 during trading on Wednesday, reaching $152.55. The company had a trading volume of 899,455 shares, compared to its average volume of 431,198. The firm’s 50-day simple moving average is $161.61 and its 200 day simple moving average is $133.09. Impinj has a 1-year low of $48.39 and a 1-year high of $181.88. The firm has a market capitalization of $4.23 billion, a PE ratio of -461.49 and a beta of 1.78. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. As a group, equities research analysts anticipate that Impinj will post 0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on PI shares. Jefferies Financial Group started coverage on shares of Impinj in a research note on Monday, May 13th. They set a buy rating and a $200.00 price target on the stock. StockNews.com lowered shares of Impinj from a hold rating to a sell rating in a research note on Tuesday, May 21st. Roth Mkm boosted their price target on shares of Impinj from $125.00 to $145.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Needham & Company LLC reiterated a buy rating and set a $195.00 price target on shares of Impinj in a research note on Wednesday, June 5th. Finally, Evercore ISI assumed coverage on Impinj in a report on Tuesday, April 16th. They issued an outperform rating and a $160.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Impinj has a consensus rating of Moderate Buy and a consensus price target of $169.60.

Insider Buying and Selling at Impinj

In other Impinj news, insider Cathal G. Phelan sold 212 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the completion of the sale, the insider now owns 16,669 shares in the company, valued at $2,459,010.88. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Impinj news, insider Cathal G. Phelan sold 212 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the completion of the sale, the insider now owns 16,669 shares in the company, valued at $2,459,010.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total value of $153,100,000.00. Following the completion of the sale, the insider now owns 3,197,352 shares of the company’s stock, valued at approximately $489,514,591.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,097,971 shares of company stock worth $167,900,777. 51.00% of the stock is owned by insiders.

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.