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Impinj (PI) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2 mins read

Impinj (PI) closed at $29.33 in the latest trading session, marking a -1.61% move from the prior day. This move lagged the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.07%, and the Nasdaq, a tech-heavy index, lost 0.47%.

Coming into today, shares of the provider of radio frequency identification products had gained 6.35% in the past month. In that same time, the Computer and Technology sector gained 6.24%, while the S&P 500 gained 3.19%.

Investors will be hoping for strength from PI as it approaches its next earnings release, which is expected to be October 28, 2020. The company is expected to report EPS of -$0.33, down 466.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.90 million, down 38.91% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.69 per share and revenue of $127.50 million. These totals would mark changes of -1825% and -16.58%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for PI. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. PI is currently a Zacks Rank #3 (Hold).

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 114, putting it in the top 46% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow PI in the coming trading sessions, be sure to utilize Zacks.com.


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