IMPINJ (NASDAQ:PI) announced its quarterly earnings data on Monday, April 29th. The company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.15, Briefing.com reports. The company had revenue of $33.10 million for the quarter, compared to analyst estimates of $31.08 million. IMPINJ had a negative return on equity of 12.32% and a negative net margin of 21.33%. IMPINJ’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) EPS. IMPINJ updated its Q2 2019 guidance to $-0.11–0.04 EPS and its Q2 guidance to ($0.11)-($0.04) EPS.
Shares of IMPINJ stock traded down $0.33 during trading on Wednesday, reaching $25.52. 170,266 shares of the company were exchanged, compared to its average volume of 312,989. The company has a quick ratio of 3.11, a current ratio of 4.79 and a debt-to-equity ratio of 0.17. IMPINJ has a twelve month low of $13.25 and a twelve month high of $31.10. The stock has a market cap of $564.23 million, a PE ratio of -37.53 and a beta of 2.81.
Several equities analysts have issued reports on PI shares. BidaskClub upgraded IMPINJ from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Friday, February 22nd. ValuEngine upgraded IMPINJ from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Roth Capital initiated coverage on IMPINJ in a research report on Tuesday, April 23rd. They set a “buy” rating and a $27.00 target price for the company. Finally, Canaccord Genuity boosted their target price on IMPINJ from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. IMPINJ presently has a consensus rating of “Buy” and an average price target of $31.25.
In other IMPINJ news, VP Denise Masters sold 1,292 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $28.75, for a total value of $37,145.00. Following the completion of the transaction, the vice president now directly owns 2,500 shares of the company’s stock, valued at $71,875. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 10,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. Following the completion of the transaction, the chief executive officer now directly owns 285,478 shares of the company’s stock, valued at $7,136,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,292 shares of company stock valued at $2,223,945. 26.00% of the stock is owned by insiders.
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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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