IMPINJ Inc (PI) Releases Q1 Earnings Guidance
IMPINJ Inc (NYSE:PI) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of (-0.6) to 0.01 for the period, compared to the Thomson Reuters consensus estimate of $0.02. The company issued revenue guidance of $30-31.5 million, compared to the consensus revenue estimate of $29.30 million.
Shares of IMPINJ Inc (NYSE:PI) traded down 3.10% during midday trading on Thursday, hitting $35.36. The stock had a trading volume of 2,364,552 shares. The stock’s 50 day moving average price is $33.92 and its 200 day moving average price is $30.33. The firm’s market cap is $629.76 million. IMPINJ Inc has a 12 month low of $16.36 and a 12 month high of $41.91.
Several research firms recently commented on PI. Needham & Company LLC reiterated a buy rating and issued a $32.00 price objective on shares of IMPINJ in a report on Wednesday, January 11th. Zacks Investment Research downgraded IMPINJ from a buy rating to a hold rating in a report on Thursday, January 5th. RBC Capital Markets reiterated an outperform rating and issued a $37.00 price objective on shares of IMPINJ in a report on Monday, January 23rd. Finally, Pacific Crest reiterated a buy rating and issued a $36.00 price objective on shares of IMPINJ in a report on Friday, November 4th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $31.63.
In other IMPINJ news, CEO Chris Ph.D. Diorio sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $27.00, for a total value of $2,160,000.00. Following the transaction, the chief executive officer now directly owns 308,312 shares of the company’s stock, valued at $8,324,424. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
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IMPINJ Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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