Impinj (PI) Scheduled to Post Earnings on Wednesday

Impinj (NASDAQ:PI) will be issuing its quarterly earnings data after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Impinj has set its Q3 guidance at $0.46-0.50 EPS and its Q3 2024 guidance at 0.460-0.500 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share. On average, analysts expect Impinj to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Impinj Trading Up 4.0 %

PI stock opened at $227.14 on Tuesday. The stock has a market capitalization of $6.29 billion, a P/E ratio of -648.97 and a beta of 1.80. Impinj has a 12 month low of $48.39 and a 12 month high of $239.88. The firm has a 50-day moving average price of $192.29 and a 200-day moving average price of $167.16.

Analysts Set New Price Targets

PI has been the subject of a number of research reports. Evercore ISI increased their target price on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and issued a $225.00 target price (up previously from $180.00) on shares of Impinj in a report on Friday, September 27th. Susquehanna raised their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday. Roth Mkm raised their price objective on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $196.10.

Insider Buying and Selling at Impinj

In other Impinj news, CFO Cary Baker sold 366 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the sale, the chief financial officer now owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the sale, the chief financial officer now owns 71,096 shares of the company’s stock, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 21,779 shares of company stock valued at $3,825,046. 51.00% 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.