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.

Analysts Set New Price Targets

PI has been the topic of several recent analyst reports. Susquehanna boosted their price target on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday. Cantor Fitzgerald lifted their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Lake Street Capital upped their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC raised their price objective on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. 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 presently has an average rating of “Moderate Buy” and a consensus price target of $220.20.

Impinj Price Performance

PI traded down $30.25 on Thursday, reaching $192.21. 2,223,607 shares of the company traded hands, compared to its average volume of 420,962. Impinj has a 52-week low of $48.39 and a 52-week high of $239.88. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 662.79 and a beta of 1.80. The stock’s 50 day moving average price is $195.01 and its 200-day moving average price is $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. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) earnings per share. As a group, equities research analysts forecast that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Cary Baker sold 366 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the sale, the chief financial officer now owns 71,096 shares in the company, valued at approximately $16,908,761.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price 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 of the company’s stock, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Cary Baker sold 366 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the sale, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. 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 90 days, insiders have sold 21,779 shares of company stock worth $3,825,046. 51.00% of the stock is owned by corporate insiders.

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.