Impinj (NASDAQ:PI) Releases Q2 2024 Earnings Guidance

Impinj (NASDAQ:PI) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.720-0.770 for the period, compared to the consensus estimate of 0.190. The company issued revenue guidance of $96.0 million-$99.0 million, compared to the consensus revenue estimate of $78.9 million. Impinj also updated its Q2 guidance to $0.72-$0.77 EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Impinj to a sell rating in a research note on Friday, February 9th. Roth Mkm raised their price objective on shares of Impinj from $115.00 to $125.00 and gave the company a buy rating in a research report on Thursday, March 14th. The Goldman Sachs Group raised their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a buy rating in a research report on Friday, February 9th. Susquehanna raised their price objective on shares of Impinj from $130.00 to $140.00 and gave the company a positive rating in a research report on Tuesday. Finally, Needham & Company LLC raised their price objective on shares of Impinj from $120.00 to $130.00 and gave the company a buy rating in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $120.56.

Impinj Stock Down 2.2 %

Shares of Impinj stock traded down $2.77 during trading on Wednesday, hitting $120.91. 810,405 shares of the stock traded hands, compared to its average volume of 371,715. The firm has a market cap of $3.34 billion, a P/E ratio of -74.64 and a beta of 2.05. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj has a 52-week low of $48.39 and a 52-week high of $139.46. The stock’s fifty day simple moving average is $117.29 and its 200 day simple moving average is $93.92.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The business had revenue of $70.65 million during the quarter, compared to the consensus estimate of $67.10 million. On average, equities analysts predict that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Cary Baker sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the transaction, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The disclosure for this sale can be found here. Insiders have sold a total of 120,185 shares of company stock valued at $12,767,674 in the last quarter. Insiders own 17.10% 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.