Impinj (NASDAQ:PI) Updates Q4 2024 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.450-0.490 for the period, compared to the consensus EPS estimate of 0.400. The company issued revenue guidance of $91.0 million-$94.0 million, compared to the consensus revenue estimate of $90.1 million. Impinj also updated its Q4 guidance to $0.45-$0.49 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PI shares. Lake Street Capital lifted their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective (up from $180.00) on shares of Impinj in a report on Friday, September 27th. 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. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.10.

Impinj Price Performance

NASDAQ:PI traded down $1.04 during trading hours on Wednesday, hitting $222.46. The company’s stock had a trading volume of 833,291 shares, compared to its average volume of 457,829. The stock has a fifty day simple moving average of $195.01 and a 200-day simple moving average of $168.26. Impinj has a twelve month low of $48.39 and a twelve month high of $239.88. The company has a market capitalization of $6.26 billion, a P/E ratio of 767.10 and a beta of 1.80.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. During the same quarter last year, the business posted ($0.14) EPS. Impinj’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts predict that Impinj will post 0.31 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Cathal G. Phelan sold 677 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total transaction of $109,985.42. Following the sale, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 over the last three months. Company insiders own 51.00% 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.