IMPINJ Inc (PI) Issues Q4 Earnings Guidance

IMPINJ Inc (NYSE:PI) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of -0.24-0.16 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.01. The company issued revenue guidance of $28.25-29.75 million, compared to the consensus revenue estimate of $35.42 million.

Several analysts have commented on the stock. Royal Bank Of Canada restated an outperform rating on shares of IMPINJ in a report on Saturday, July 22nd. Zacks Investment Research downgraded shares of IMPINJ from a hold rating to a sell rating in a report on Wednesday, July 19th. Needham & Company LLC raised their target price on shares of IMPINJ from $40.00 to $55.00 and gave the stock a buy rating in a report on Wednesday, July 26th. Canaccord Genuity restated a buy rating and set a $50.00 target price (down from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Finally, BidaskClub upgraded shares of IMPINJ from a buy rating to a strong-buy rating in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $47.57.

IMPINJ (NYSE:PI) last issued its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $34.10 million for the quarter, compared to analyst estimates of $33.41 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. IMPINJ’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share.

In related news, insider Eric Brodersen sold 7,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $39.85, for a total value of $278,950.00. Following the completion of the sale, the insider now directly owns 92,843 shares of the company’s stock, valued at approximately $3,699,793.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Evan Fein sold 9,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock valued at $1,392,420 over the last three months.

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IMPINJ Company Profile

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

Earnings History and Estimates for IMPINJ (NYSE:PI)

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