Impinj (NASDAQ:PI) Issues Q4 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.45-$0.49 for the period, compared to the consensus earnings per share estimate of $0.40. The company issued revenue guidance of $91.0-$94.0 million, compared to the consensus revenue estimate of $90.06 million. Impinj also updated its Q4 2024 guidance to 0.450-0.490 EPS.

Impinj Stock Performance

Shares of PI opened at $200.70 on Friday. The stock has a market capitalization of $5.64 billion, a P/E ratio of 692.07 and a beta of 1.80. Impinj has a 1 year low of $58.56 and a 1 year high of $239.88. The company’s fifty day moving average is $196.40 and its two-hundred day moving average is $168.96.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. The firm’s quarterly revenue was up 46.5% on a year-over-year basis. Sell-side analysts predict that Impinj will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PI. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a research note on Thursday. Susquehanna lifted their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a report on Friday. Roth Mkm lifted their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Lake Street Capital upped their target price on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $224.60.

Insider Buying and Selling at Impinj

In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the completion of the transaction, the executive now directly owns 63,642 shares of the company’s stock, valued at $10,043,344.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 21,779 shares of company stock valued at $3,825,046 over the last three months. 51.00% of the stock is 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.