Zacks: Brokerages Expect IMPINJ Inc (NASDAQ:PI) Will Post Earnings of -$0.27 Per Share

Analysts expect IMPINJ Inc (NASDAQ:PI) to post ($0.27) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for IMPINJ’s earnings, with estimates ranging from ($0.33) to ($0.18). IMPINJ posted earnings of $0.03 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 1,000%. The firm is expected to announce its next earnings results on Monday, August 3rd.

On average, analysts expect that IMPINJ will report full year earnings of ($0.51) per share for the current fiscal year, with EPS estimates ranging from ($0.72) to ($0.21). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.19) per share, with EPS estimates ranging from ($0.50) to $0.10. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for IMPINJ.

IMPINJ (NASDAQ:PI) last announced its quarterly earnings data on Monday, April 27th. The company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.45. IMPINJ had a negative return on equity of 5.98% and a negative net margin of 12.08%. The firm had revenue of $47.80 million during the quarter, compared to analyst estimates of $38.37 million. During the same period in the previous year, the company earned ($0.11) earnings per share. IMPINJ’s quarterly revenue was up 44.4% on a year-over-year basis.

Several equities research analysts recently commented on PI shares. BidaskClub raised IMPINJ from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 price target on shares of IMPINJ in a report on Wednesday, June 10th. Zacks Investment Research cut IMPINJ from a “strong-buy” rating to a “hold” rating in a report on Saturday, March 7th. Royal Bank of Canada cut their target price on shares of IMPINJ from $36.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 4th. Finally, Morgan Stanley boosted their target price on shares of IMPINJ from $21.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 16th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $32.14.

Shares of NASDAQ PI traded up $0.81 during midday trading on Wednesday, hitting $26.50. 3,914 shares of the company’s stock were exchanged, compared to its average volume of 302,967. The company has a debt-to-equity ratio of 0.54, a current ratio of 9.20 and a quick ratio of 7.59. The stock’s 50 day moving average price is $26.09 and its 200-day moving average price is $25.47. The firm has a market cap of $594.22 million, a P/E ratio of -28.48 and a beta of 2.57. IMPINJ has a twelve month low of $11.47 and a twelve month high of $40.24.

Several institutional investors have recently bought and sold shares of the company. Moloney Securities Asset Management LLC grew its holdings in shares of IMPINJ by 5.1% during the 1st quarter. Moloney Securities Asset Management LLC now owns 10,225 shares of the company’s stock valued at $171,000 after acquiring an additional 500 shares in the last quarter. Swiss National Bank grew its holdings in shares of IMPINJ by 1.6% during the 1st quarter. Swiss National Bank now owns 32,200 shares of the company’s stock valued at $538,000 after acquiring an additional 500 shares in the last quarter. UBS Group AG grew its holdings in shares of IMPINJ by 0.3% during the 4th quarter. UBS Group AG now owns 161,005 shares of the company’s stock valued at $4,164,000 after acquiring an additional 502 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of IMPINJ by 0.5% during the 4th quarter. Fred Alger Management LLC now owns 104,442 shares of the company’s stock valued at $2,701,000 after acquiring an additional 540 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC grew its holdings in shares of IMPINJ by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 67,189 shares of the company’s stock valued at $1,123,000 after acquiring an additional 657 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

IMPINJ Company Profile

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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