Equities analysts predict that IMPINJ Inc (NASDAQ:PI) will announce $24.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for IMPINJ’s earnings. IMPINJ posted sales of $40.76 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 38.9%. The firm is expected to report its next quarterly earnings report on Monday, November 2nd.
On average, analysts expect that IMPINJ will report full year sales of $127.50 million for the current financial year, with estimates ranging from $125.00 million to $128.80 million. For the next year, analysts expect that the business will report sales of $145.47 million, with estimates ranging from $144.00 million to $146.40 million. Zacks’ sales calculations are an average based on a survey of analysts that follow IMPINJ.
IMPINJ (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.24. The business had revenue of $26.50 million for the quarter, compared to the consensus estimate of $26.80 million. IMPINJ had a negative return on equity of 14.90% and a negative net margin of 21.57%. The firm’s revenue was down 30.3% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS.
Several research firms recently issued reports on PI. Morgan Stanley decreased their price objective on shares of IMPINJ from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. BidaskClub cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price (down from $34.00) on shares of IMPINJ in a research note on Thursday, July 30th. Zacks Investment Research cut shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $35.00 target price on shares of IMPINJ in a research note on Wednesday, June 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. IMPINJ presently has an average rating of “Buy” and a consensus price target of $30.50.
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In other news, EVP Jeffrey Dossett sold 2,487 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $23.35, for a total value of $58,071.45. Following the completion of the transaction, the executive vice president now owns 23,783 shares in the company, valued at approximately $555,333.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 6,073 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $27.12, for a total transaction of $164,699.76. Following the sale, the chief executive officer now owns 287,898 shares of the company’s stock, valued at approximately $7,807,793.76. The disclosure for this sale can be found here. Corporate insiders own 25.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC boosted its stake in shares of IMPINJ by 373.4% in the 1st quarter. Fred Alger Management LLC now owns 494,441 shares of the company’s stock valued at $8,262,000 after purchasing an additional 389,999 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of IMPINJ by 142.6% during the 1st quarter. Two Sigma Investments LP now owns 384,342 shares of the company’s stock worth $6,422,000 after buying an additional 225,928 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of IMPINJ by 2,433.6% during the 1st quarter. JPMorgan Chase & Co. now owns 220,141 shares of the company’s stock worth $3,678,000 after buying an additional 211,452 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of IMPINJ during the 1st quarter worth about $3,492,000. Finally, Two Sigma Advisers LP boosted its stake in shares of IMPINJ by 294.5% during the 1st quarter. Two Sigma Advisers LP now owns 249,300 shares of the company’s stock worth $4,166,000 after buying an additional 186,100 shares during the last quarter. Institutional investors and hedge funds own 82.66% of the company’s stock.
NASDAQ PI opened at $25.52 on Wednesday. The company has a current ratio of 7.17, a quick ratio of 5.65 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $26.32 and a 200 day simple moving average of $24.47. The company has a market cap of $548.53 million, a P/E ratio of -17.01 and a beta of 2.42. IMPINJ has a 1 year low of $11.47 and a 1 year high of $37.99.
Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item’s unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.
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