Impinj, Inc. (PI - Free Report) is a leading provider of RAIN RFID solutions for locating, identifying and authenticating regular items that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on PI’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Impinj could be a solid choice for investors.
Current Quarter Estimates for PI
In the past 30 days, one estimate has gone higher for Impinj while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 27 cents a share 30 days ago, to a loss of 14 cents today, a move of 48.1%.
Current Year Estimates for PI
Meanwhile, Impinj’s current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.29 per share 30 days ago to a loss of 82 cents per share today, an increase of 36.4%.
Impinj, Inc. Price and Consensus
The stock has also started to move higher lately, adding 25.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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