IMPINJ Inc (NASDAQ:PI) Expected to Announce Earnings of -$0.27 Per Share

Equities analysts expect that IMPINJ Inc (NASDAQ:PI) will report earnings per share (EPS) of ($0.27) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for IMPINJ’s earnings, with the lowest EPS estimate coming in at ($0.33) and the highest estimate coming in at ($0.18). IMPINJ reported earnings per share of $0.03 during the same quarter last year, which would suggest a negative year-over-year growth rate of 1,000%. The company is scheduled to report its next quarterly earnings report on Monday, August 3rd.

According to Zacks, 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 year, analysts expect that the business will post earnings of ($0.19) per share, with EPS estimates ranging from ($0.50) to $0.10. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for IMPINJ.

IMPINJ (NASDAQ:PI) last posted its earnings results on Monday, April 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $38.37 million. During the same quarter in the prior year, the company earned ($0.11) EPS. IMPINJ’s revenue was up 44.4% on a year-over-year basis.

Several research firms recently issued reports on PI. Morgan Stanley increased their target price on IMPINJ from $21.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 16th. Canaccord Genuity restated a “buy” rating and set a $35.00 price target on shares of IMPINJ in a report on Wednesday, June 10th. BidaskClub upgraded IMPINJ from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Needham & Company LLC upped their price target on IMPINJ from $19.00 to $25.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, ValuEngine upgraded IMPINJ from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. IMPINJ presently has an average rating of “Buy” and a consensus price target of $32.14.

PI traded up $0.81 during mid-day trading on Wednesday, hitting $26.50. 3,914 shares of the stock were exchanged, compared to its average volume of 302,967. The firm’s fifty day moving average is $26.09 and its two-hundred day moving average is $25.47. IMPINJ has a 1-year low of $11.47 and a 1-year high of $40.24. The company has a current ratio of 9.20, a quick ratio of 7.59 and a debt-to-equity ratio of 0.54. The company has a market cap of $594.22 million, a PE ratio of -28.48 and a beta of 2.57.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC increased its holdings in shares of IMPINJ by 5.1% in 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 during the last quarter. Swiss National Bank increased its holdings in shares of IMPINJ by 1.6% in 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 during the last quarter. UBS Group AG grew its stake in IMPINJ by 0.3% during the 4th quarter. UBS Group AG now owns 161,005 shares of the company’s stock worth $4,164,000 after buying an additional 502 shares during the last quarter. Fred Alger Management LLC grew its stake in IMPINJ by 0.5% during the 4th quarter. Fred Alger Management LLC now owns 104,442 shares of the company’s stock worth $2,701,000 after buying an additional 540 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC grew its stake in IMPINJ by 1.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 67,189 shares of the company’s stock worth $1,123,000 after buying an additional 657 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

About IMPINJ

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.

Read More: What is the Rule of 72?

Get a free copy of the Zacks research report on IMPINJ (PI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for IMPINJ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ and related companies with MarketBeat.com's FREE daily email newsletter.