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Impinj (PI) Soars 6.4%: Is Further Upside Left in the Stock?
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Impinj (PI - Free Report) shares soared 6.4% in the last trading session to close at $53.14. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.2% gain over the past four weeks.
Impinj extended its rally, driven by its strengthening bookings and solid demand environment for endpoint ICs, reader ICs, readers and gateways. Additionally, improvements in the company’s retail loss-prevention engine remain noteworthy. Further, growing reader revenues on the back of reader strength in supply chain and logistics, are contributing well.
This provider of radio frequency identification products is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -118.2%. Revenues are expected to be $55.03 million, up 16.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Impinj, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PI going forward to see if this recent jump can turn into more strength down the road.
Impinj is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, SMART Global Holdings, Inc. (SGH - Free Report) , finished the last trading session 3.2% higher at $24.95. SGH has returned 10.4% over the past month.
SMART Global Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.75. Compared to the company's year-ago EPS, this represents a change of +7.1%. SMART Global Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Impinj (PI) Soars 6.4%: Is Further Upside Left in the Stock?
Impinj (PI - Free Report) shares soared 6.4% in the last trading session to close at $53.14. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 15.2% gain over the past four weeks.
Impinj extended its rally, driven by its strengthening bookings and solid demand environment for endpoint ICs, reader ICs, readers and gateways. Additionally, improvements in the company’s retail loss-prevention engine remain noteworthy. Further, growing reader revenues on the back of reader strength in supply chain and logistics, are contributing well.
This provider of radio frequency identification products is expected to post quarterly loss of $0.02 per share in its upcoming report, which represents a year-over-year change of -118.2%. Revenues are expected to be $55.03 million, up 16.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Impinj, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on PI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Impinj is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, SMART Global Holdings, Inc. (SGH - Free Report) , finished the last trading session 3.2% higher at $24.95. SGH has returned 10.4% over the past month.
SMART Global Holdings, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.75. Compared to the company's year-ago EPS, this represents a change of +7.1%. SMART Global Holdings, Inc. currently boasts a Zacks Rank of #3 (Hold).