Stock of the Day

July 9, 2024

Impinj (PI)

$190.88
-$1.26 (-0.7%)
Market Cap: $5.87B

About Impinj

Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item. Its platform also consists of systems products that consists of reader ICs, readers, and gateways to wirelessly provide power to and communicate bidirectionally with endpoint ICs on host items, as well as to read, write, authenticate, and engage the endpoint ICs on those items; and software and algorithms that enable its partners to solve enterprise business problems, such as retail self-checkout and loss prevention. The company primarily serves retail, supply chain and logistics, automotive, aviation, banking, datacenters, food, healthcare, industrial and manufacturing, linen and uniform tracking, sports, and travel industries through original equipment and device manufacturers, tag service bureaus, systems integrators, value-added resellers, independent software vendors, and other solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.

Today's Trend

Impinj, Inc. (NASDAQ: PI) shares increased as investors responded to a stronger-than-expected second quarter and upbeat third-quarter outlook. The company’s results also suggested improving demand for endpoint integrated circuits.

  • Q2 earnings and revenue exceeded expectations. Impinj reported adjusted earnings of $0.86 per share versus the $0.80–$0.81 consensus and revenue of $108.4 million, ahead of estimates near $104.6 million. Revenue rose 10.7% year over year, while gross profit increased 12.2% to $63.5 million. Impinj Tops Q2 Earnings and Revenue Estimates
  • Q3 guidance was well above Wall Street expectations. Management projected revenue of $105.5 million to $108.5 million, compared with consensus of approximately $98.6 million, and EPS of $0.59 to $0.63 versus an expected loss of roughly $0.01. The company also signaled acceleration in endpoint IC demand. Impinj Q3 Guidance and Endpoint IC Demand
  • Cash generation and profitability improved. Impinj reported $12.2 million of net income attributable to common shareholders, $10.5 million of operating profit and $31.6 million of operating cash flow, supporting the view that growth is translating into stronger financial performance. Impinj Q2 2026 Earnings
  • Analyst support added to the bullish reaction. Cantor Fitzgerald reaffirmed its “overweight” rating and raised its price target to $200, implying substantial upside from the referenced trading level.
  • Institutional positioning was mixed, with 154 investors adding shares and 145 reducing positions during the latest reporting period.
  • Insider activity remains a cautionary signal: reported transactions over the past six months consisted of 10 sales and no purchases, totaling roughly 239,000 shares sold. Impinj also trades at a very high earnings multiple, leaving the stock sensitive to any slowdown in growth or disappointment in future guidance.
← Previous Stock of the DayNext Stock of the Day →

Recent News