Impinj (NASDAQ:PI) Updates Q4 2024 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.450-0.490 for the period, compared to the consensus earnings per share 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.

Impinj Price Performance

Shares of PI stock traded down $1.04 during trading hours on Wednesday, reaching $222.46. The company had a trading volume of 833,291 shares, compared to its average volume of 457,829. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 767.10 and a beta of 1.80. Impinj has a 12 month low of $48.39 and a 12 month high of $239.88. The business has a fifty day simple moving average of $195.01 and a 200-day simple moving average of $168.26.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. During the same period last year, the business earned ($0.14) EPS. The business’s revenue was up 19.2% on a year-over-year basis. On average, equities research analysts expect that Impinj will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

PI has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. Roth Mkm boosted their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Impinj in a research note on Thursday, July 25th. Lake Street Capital increased their price target on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $196.10.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 496 shares of Impinj 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 sale, the chief financial officer now directly owns 70,524 shares in the company, valued at approximately $14,751,505.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Cary Baker sold 496 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the sale, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,219 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.82, for a total transaction of $289,902.58. Following the completion of the transaction, the chief executive officer now directly owns 294,438 shares of the company’s stock, valued at approximately $70,023,245.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,779 shares of company stock worth $3,825,046. Corporate insiders own 51.00% of the company’s stock.

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.