Analysts Expect Impinj, Inc. (NASDAQ:PI) Will Post Quarterly Sales of $47.35 Million

Wall Street brokerages predict that Impinj, Inc. (NASDAQ:PI) will post $47.35 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Impinj’s earnings, with estimates ranging from $47.00 million to $47.70 million. Impinj reported sales of $36.45 million in the same quarter last year, which indicates a positive year over year growth rate of 29.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 9th.

On average, analysts expect that Impinj will report full-year sales of $185.05 million for the current year, with estimates ranging from $184.70 million to $185.40 million. For the next year, analysts anticipate that the firm will report sales of $223.20 million, with estimates ranging from $221.90 million to $224.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Impinj.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 27th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.06. Impinj had a negative net margin of 26.97% and a negative return on equity of 43.37%. The business had revenue of $45.19 million during the quarter, compared to analysts’ expectations of $44.13 million. During the same period in the previous year, the business posted ($0.54) EPS. The business’s quarterly revenue was up 60.3% compared to the same quarter last year.

Several analysts have commented on PI shares. Roth Capital lifted their price objective on shares of Impinj from $68.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, October 28th. Zacks Investment Research upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research note on Wednesday, September 29th. Lake Street Capital assumed coverage on shares of Impinj in a research note on Tuesday, October 26th. They issued a “buy” rating and a $69.00 target price for the company. Needham & Company LLC boosted their target price on shares of Impinj from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 28th. Finally, Colliers Securities reiterated a “buy” rating and issued a $82.00 target price on shares of Impinj in a research note on Friday, October 22nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $69.78.

In other news, Director Sylebra Capital Ltd sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $78.25, for a total transaction of $78,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Oppen Peter H. Van sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 4th. The shares were sold at an average price of $79.01, for a total transaction of $790,100.00. The disclosure for this sale can be found here. Insiders have sold 1,055,319 shares of company stock valued at $82,385,310 over the last 90 days. 24.70% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PI. ProShare Advisors LLC lifted its position in Impinj by 5.7% in the second quarter. ProShare Advisors LLC now owns 4,842 shares of the company’s stock valued at $250,000 after buying an additional 261 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Impinj in the first quarter valued at about $1,235,000. LPL Financial LLC lifted its position in Impinj by 9.4% in the second quarter. LPL Financial LLC now owns 17,436 shares of the company’s stock valued at $900,000 after buying an additional 1,492 shares during the last quarter. Geode Capital Management LLC lifted its position in Impinj by 8.4% in the second quarter. Geode Capital Management LLC now owns 349,216 shares of the company’s stock valued at $18,016,000 after buying an additional 27,121 shares during the last quarter. Finally, AWM Investment Company Inc. lifted its position in Impinj by 14.3% in the second quarter. AWM Investment Company Inc. now owns 492,477 shares of the company’s stock valued at $25,407,000 after buying an additional 61,500 shares during the last quarter. 87.49% of the stock is owned by hedge funds and other institutional investors.

NASDAQ PI traded up $1.17 on Thursday, hitting $77.02. 211,539 shares of the company’s stock traded hands, compared to its average volume of 268,496. Impinj has a 1-year low of $35.18 and a 1-year high of $85.13. The firm’s 50-day moving average price is $64.26 and its two-hundred day moving average price is $54.83. The firm has a market capitalization of $1.88 billion, a PE ratio of -38.90 and a beta of 2.34.

Impinj Company Profile

IImpinj, Inc engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain and logistics, hospitality, food and beverage, and industrial manufacturing industries.

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