In the latest trading session, Impinj (PI) closed at $28.50, marking a -0.52% move from the previous day. This change was narrower than the S&P 500's 0.96% loss on the day. Meanwhile, the Dow lost 0.48%, and the Nasdaq, a tech-heavy index, lost 2.22%.
Heading into today, shares of the provider of radio frequency identification products had gained 12.44% over the past month, outpacing the Computer and Technology sector's loss of 5.77% and the S&P 500's loss of 4.04% in that time.
Wall Street will be looking for positivity from PI as it approaches its next earnings report date. The company is expected to report EPS of -$0.33, down 466.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $24.90 million, down 38.91% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.69 per share and revenue of $127.50 million, which would represent changes of -1825% and -16.58%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for PI. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 76, putting it in the top 31% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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