Equities research analysts forecast that IMPINJ Inc (NASDAQ:PI) will report sales of $26.10 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for IMPINJ’s earnings, with estimates ranging from $25.70 million to $26.50 million. IMPINJ reported sales of $34.11 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 23.5%. The company is expected to issue its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that IMPINJ will report full year sales of $110.54 million for the current fiscal year, with estimates ranging from $105.61 million to $115.40 million. For the next fiscal year, analysts expect that the firm will post sales of $125.09 million per share, with estimates ranging from $117.96 million to $130.80 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow IMPINJ.
IMPINJ (NASDAQ:PI) last released its earnings results on Monday, May 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.01). The firm had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $23.95 million. IMPINJ had a negative return on equity of 11.89% and a negative net margin of 24.95%. The business’s revenue was down 20.8% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share.
Several research firms have recently weighed in on PI. ValuEngine upgraded shares of IMPINJ from a “sell” rating to a “hold” rating in a report on Monday. Piper Jaffray Companies raised their price target on shares of IMPINJ from $19.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, June 27th. BidaskClub upgraded shares of IMPINJ from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th. Zacks Investment Research cut shares of IMPINJ from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Finally, Canaccord Genuity upgraded shares of IMPINJ from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $27.00.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of IMPINJ by 0.4% in the fourth quarter. BlackRock Inc. now owns 1,149,501 shares of the company’s stock valued at $25,898,000 after purchasing an additional 4,263 shares during the period. Guggenheim Capital LLC raised its position in shares of IMPINJ by 81.0% in the fourth quarter. Guggenheim Capital LLC now owns 10,701 shares of the company’s stock valued at $239,000 after purchasing an additional 4,790 shares during the period. A.R.T. Advisors LLC raised its position in shares of IMPINJ by 27.1% in the first quarter. A.R.T. Advisors LLC now owns 35,705 shares of the company’s stock valued at $464,000 after purchasing an additional 7,607 shares during the period. Rainier Group Investment Advisory LLC bought a new position in IMPINJ during the first quarter worth $104,000. Finally, MetLife Investment Advisors LLC bought a new position in IMPINJ during the fourth quarter worth $193,000. 71.27% of the stock is currently owned by institutional investors.
IMPINJ stock opened at $22.09 on Wednesday. The company has a market capitalization of $471.83 million, a PE ratio of -76.17 and a beta of 1.97. The company has a current ratio of 8.00, a quick ratio of 4.67 and a debt-to-equity ratio of 0.20. IMPINJ has a fifty-two week low of $9.95 and a fifty-two week high of $55.90.
IMPINJ Company Profile
Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.
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