Dougherty & Co Equities Analysts Decrease Earnings Estimates for IMPINJ Inc (NASDAQ:PI)

IMPINJ Inc (NASDAQ:PI) – Analysts at Dougherty & Co decreased their FY2019 earnings estimates for shares of IMPINJ in a research note issued on Tuesday, November 5th. Dougherty & Co analyst C. Anderson now forecasts that the company will post earnings per share of ($0.74) for the year, down from their prior forecast of ($0.45). Dougherty & Co also issued estimates for IMPINJ’s Q4 2019 earnings at ($0.23) EPS.

IMPINJ (NASDAQ:PI) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.10. The company had revenue of $40.76 million during the quarter, compared to analyst estimates of $38.21 million. IMPINJ had a negative return on equity of 1.81% and a negative net margin of 14.52%. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share.

Several other equities research analysts have also issued reports on PI. Canaccord Genuity reissued a “buy” rating and set a $42.00 price objective (up previously from $39.00) on shares of IMPINJ in a research note on Friday, August 16th. TheStreet upgraded IMPINJ from a “d” rating to a “c-” rating in a research report on Tuesday, July 30th. ValuEngine upgraded IMPINJ from a “sell” rating to a “hold” rating in a report on Friday. BidaskClub upgraded IMPINJ from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research upgraded IMPINJ from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.75.

NASDAQ:PI opened at $34.45 on Friday. The firm has a market capitalization of $782.46 million, a price-to-earnings ratio of -50.66 and a beta of 2.67. IMPINJ has a 52-week low of $13.25 and a 52-week high of $40.24. The stock has a fifty day moving average of $31.88 and a 200 day moving average of $31.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.08 and a current ratio of 5.90.

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In related news, CEO Chris Ph.D. Diorio sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $35.50, for a total value of $355,000.00. Following the sale, the chief executive officer now directly owns 236,978 shares of the company’s stock, valued at $8,412,719. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tom A. Alberg sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $34.45, for a total value of $413,400.00. Following the completion of the sale, the director now directly owns 87,269 shares in the company, valued at $3,006,417.05. The disclosure for this sale can be found here. Insiders sold 57,298 shares of company stock worth $1,978,191 over the last three months. 28.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hussman Strategic Advisors Inc. bought a new stake in shares of IMPINJ in the third quarter worth about $31,000. Oppenheimer Asset Management Inc. bought a new stake in IMPINJ during the 2nd quarter valued at approximately $34,000. Bank of Montreal Can bought a new stake in IMPINJ during the 2nd quarter valued at approximately $36,000. Tower Research Capital LLC TRC bought a new stake in IMPINJ during the 3rd quarter valued at approximately $61,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in IMPINJ by 215.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,169 shares of the company’s stock valued at $64,000 after acquiring an additional 1,482 shares in the last quarter. 70.17% of the stock is currently owned by institutional investors.

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.

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Earnings History and Estimates for IMPINJ (NASDAQ:PI)

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