Brokerages Expect Impinj, Inc. (NASDAQ:PI) Will Post Earnings of -$0.01 Per Share

Brokerages expect Impinj, Inc. (NASDAQ:PI – Get Rating) to post earnings per share of ($0.01) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Impinj’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.03). Impinj posted earnings per share of $0.11 during the same quarter last year, which would suggest a negative year-over-year growth rate of 109.1%. The business is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Impinj will report full-year earnings of $0.16 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.18. For the next year, analysts anticipate that the company will report earnings of $0.62 per share, with EPS estimates ranging from $0.48 to $0.77. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Impinj.

Impinj (NASDAQ:PI – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.58. Impinj had a negative net margin of 26.94% and a negative return on equity of 53.78%. During the same period in the previous year, the business posted ($0.30) EPS.

Several research firms have issued reports on PI. The Goldman Sachs Group decreased their price target on shares of Impinj from $102.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 28th. Zacks Investment Research raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, March 4th. Piper Sandler decreased their target price on shares of Impinj from $100.00 to $80.00 in a research report on Wednesday. StockNews.com assumed coverage on shares of Impinj in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Needham & Company LLC raised their target price on shares of Impinj from $63.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, January 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $91.45.

In other news, CRO Jeffrey Dossett sold 1,930 shares of Impinj stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $52.39, for a total transaction of $101,112.70. Following the sale, the executive now owns 52,224 shares in the company, valued at $2,736,015.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Cary Baker sold 1,448 shares of Impinj stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $52.38, for a total transaction of $75,846.24. Following the sale, the chief financial officer now owns 34,374 shares in the company, valued at approximately $1,800,510.12. The disclosure for this sale can be found here. Insiders sold 73,358 shares of company stock worth $4,853,111 in the last 90 days. 24.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tradewinds Capital Management LLC grew its position in shares of Impinj by 827.4% during the first quarter. Tradewinds Capital Management LLC now owns 6,093 shares of the company’s stock worth $387,000 after buying an additional 5,436 shares in the last quarter. Truist Financial Corp grew its position in shares of Impinj by 21.0% during the first quarter. Truist Financial Corp now owns 25,102 shares of the company’s stock worth $1,595,000 after buying an additional 4,363 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Impinj by 35.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,434 shares of the company’s stock worth $155,000 after buying an additional 643 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Impinj during the first quarter worth approximately $565,000. Finally, Norges Bank acquired a new stake in shares of Impinj during the fourth quarter worth approximately $19,053,000. Institutional investors own 89.39% of the company’s stock.

Impinj stock opened at $50.12 on Friday. Impinj has a 12-month low of $39.69 and a 12-month high of $94.39. The stock has a market capitalization of $1.22 billion, a P/E ratio of -23.75 and a beta of 2.38. The firm’s 50-day moving average is $59.15 and its two-hundred day moving average is $70.69.

About Impinj (Get Rating)

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

Further Reading