Why Impinj Stock Popped Today
Shares of Impinj (NASDAQ: PI) rose 11.4% on Wednesday after the RAIN RFID solutions company announced encouraging preliminary results ahead of a presentation at the 26th Annual Needham Growth Conference.
In a press release after the market closed yesterday, Impinj said it expects fourth-quarter 2023 revenue will exceed $70 million. That's down from $76.6 million in the same year-ago period, but also well above its previous guidance for sales in the range of $65.5 million to $68.5 million. Impinj also raised its outlook for fourth-quarter adjusted EBITDA to exceed $2.5 million, above its previous outlook for a range of negative ($0.9 million) to $0.7 million.
The news came ahead of a presentation by Impinj's co-founder and CEO, Chris Diorio, and its CFO Cary Baker in a fireside chat at the 26th Annual Needham Growth Conference earlier today.
Source Fool.com
Impinj Inc Stock
Impinj Inc is currently one of the favorites of our community with 15 Buy predictions and no Sell predictions.
As a result the target price of 166 € shows a slightly positive potential of 4.7% compared to the current price of 158.55 € for Impinj Inc.
