Shares of (NASDAQ: PI) skyrocketed on Thursday. On the heels of an impressive earnings report, the stock traded 27.9% higher at 1:25 p.m. ET, reaching a fresh all-time high.

Your average Wall Street analyst expected Impinj to report adjusted earnings near $0.11 per diluted share in the first quarter, based on top-line revenue around $73.6 million. Instead, the maker of radio frequency ID (RFID) asset-tracking tags and related systems delivered $0.21 of earnings per share on $76.8 million in sales.

Impinj's management set second-quarter guidance targets far ahead of the Street's current consensus projections. The analyst view points to next-quarter earnings of roughly $0.19 per share and sales in the neighborhood of $79 million. The midpoint of the company's official target ranges stop at $0.75 per share and $97 million, respectively.

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Source Fool.com