Impinj (NASDAQ:PI) Releases Q4 Earnings Guidance

Impinj (NASDAQ:PI) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.45-$0.49 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday. Susquehanna boosted their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday. Evercore ISI reissued an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday. Lake Street Capital boosted their price target on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $224.60.

Impinj Price Performance

Shares of PI traded up $12.09 during midday trading on Friday, hitting $204.30. 541,850 shares of the company traded hands, compared to its average volume of 466,897. The stock has a 50-day moving average of $195.60 and a 200-day moving average of $168.43. Impinj has a one year low of $58.56 and a one year high of $239.88. The firm has a market cap of $5.74 billion, a P/E ratio of 704.48 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating 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 firm had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. During the same period in the prior year, the business posted ($0.36) earnings per share. The company’s revenue was up 46.5% on a year-over-year basis. Sell-side analysts forecast that Impinj will post 0.31 EPS for the current fiscal year.

Insider Activity

In other news, CFO Cary Baker sold 496 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total value of $103,748.32. Following the transaction, the chief financial officer now owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Impinj news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at approximately $3,690,870.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 496 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.17, for a total transaction of $103,748.32. Following the completion of the sale, the chief financial officer now directly owns 70,524 shares of the company’s stock, valued at $14,751,505.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,779 shares of company stock worth $3,825,046 over the last ninety days. 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.