Impinj (NASDAQ:PI) Releases Q4 2024 Earnings Guidance

Impinj (NASDAQ:PI) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.450-0.490 for the period, compared to the consensus 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 Upgrades and Downgrades

A number of research firms have recently commented on PI. Lake Street Capital boosted their price target on Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Roth Mkm boosted their price target on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 target price on shares of Impinj in a report on Thursday, July 25th. Finally, StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.10.

Impinj Price Performance

Shares of Impinj stock traded down $1.04 during midday trading on Wednesday, reaching $222.46. The company had a trading volume of 833,291 shares, compared to its average volume of 457,829. The stock has a fifty day moving average price of $193.65 and a 200 day moving average price of $167.88. The firm has a market cap of $6.26 billion, a PE ratio of 777.97 and a beta of 1.80. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. As a group, sell-side analysts forecast that Impinj will post 0.31 EPS for the current year.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 488 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.84, for a total value of $116,065.92. Following the transaction, the executive now owns 65,294 shares in the company, valued at $15,529,524.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Impinj news, insider Cathal G. Phelan sold 677 shares of Impinj stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total value of $109,985.42. Following the completion of the sale, the insider now directly owns 17,367 shares of the company’s stock, valued at approximately $2,821,442.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jeffrey Dossett sold 488 shares of Impinj stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.84, for a total transaction of $116,065.92. Following the completion of the sale, the executive now directly owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This trade represents a 0.00 % decrease in their ownership of the stock. 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 quarter. 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.