Why Shares of Impinj Are Crashing Today
Shares of radio-frequency-identification solutions provider Impinj (NASDAQ: PI) sank on Thursday following a disappointing third-quarter report. The company missed analyst estimates for earnings and provided guidance that left a lot to be desired. The stock was down about 35% at 11:20 a.m. EDT.
Impinj reported third-quarter revenue of $32.6 million, up 5% year over year and in line with the average analyst estimate. The company slashed its full-year guidance in August, citing customer delays. Impinj now expects to see a slight decrease in integrated circuit (IC) volumes during the second half of the year, implying a rough fourth quarter.
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Source: Fool.com
Impinj Inc Stock
€158.55
3.480%
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.
