Impinj Analysts Boost Their Forecasts After Q1 Results
Portfolio Pulse from Avi Kapoor
Impinj, Inc. (NASDAQ:PI) exceeded Q1 expectations with adjusted earnings of 21 cents per share and sales of $76.83 million, surpassing estimates. The company forecasts Q2 non-GAAP EPS of 72 to 77 cents and revenue of $96 to $99 million. Despite positive results, shares fell 2.2% to $120.91. Analysts from Needham and Piper Sandler raised their price targets for Impinj following the earnings announcement.
April 25, 2024 | 1:09 pm
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Impinj reported strong Q1 results, with earnings and sales exceeding expectations and optimistic Q2 forecasts. However, shares fell 2.2% following the announcement.
Despite Impinj's positive earnings report and optimistic future projections, the stock price fell by 2.2% on the announcement day. This decline could be attributed to market reactions to other factors not detailed in the article or profit-taking by investors after the earnings beat. The short-term impact appears negative due to the immediate drop in stock price, but the strong financial performance and raised analyst price targets suggest a positive outlook that might not be fully reflected in the short-term price movement.
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