IMPINJ (NASDAQ:PI) Releases Earnings Results, Beats Estimates By $0.24 EPS
IMPINJ (NASDAQ:PI) released its earnings results on Wednesday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.49) by $0.24, MarketWatch Earnings reports. The company had revenue of $26.50 million for the quarter, compared to the consensus estimate of $26.80 million. IMPINJ had a negative net margin of 21.57% and a negative return on equity of 14.82%. IMPINJ’s quarterly revenue was down 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS.
Shares of PI traded down $0.07 during trading hours on Friday, hitting $22.72. The company had a trading volume of 9,618 shares, compared to its average volume of 309,665. The firm has a fifty day moving average price of $28.18 and a 200-day moving average price of $25.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 7.59 and a current ratio of 9.20. The stock has a market capitalization of $516.20 million, a price-to-earnings ratio of -15.19 and a beta of 2.56. IMPINJ has a 52-week low of $11.47 and a 52-week high of $39.49.
PI has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price (down previously from $34.00) on shares of IMPINJ in a research note on Thursday. ValuEngine raised shares of IMPINJ from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Piper Sandler dropped their price objective on shares of IMPINJ from $35.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley lowered their price target on shares of IMPINJ from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Zacks Investment Research raised shares of IMPINJ from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a report on Friday, July 17th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $30.50.
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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