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
We see a rather positive sentiment for Impinj Inc with 16 Buy predictions and 2 Sell predictions.
However, we have a potential of -3.17% for Impinj Inc as the target price of 145 € is below the current price of 149.75 €.
