Asia stocks edge higher as tech meanders on Nvidia; Hong Kong hit by soft earnings
In a challenging market environment, Impinj Inc (NASDAQ:PI) stock has recorded a new 52-week low, dipping to $98.46. According to InvestingPro data, the stock’s RSI indicates oversold territory, while the company maintains a healthy gross profit margin of 51.6%. The company, known for its Radio-Frequency Identification (RFID) solutions, has faced a tumultuous year, with its stock experiencing significant volatility reflected in its beta of 1.88. Despite the recent pressure, Impinj has maintained profitability with $366 million in revenue and positive earnings per share. Investors are closely monitoring Impinj’s performance as it navigates through the shifting landscapes of the tech sector. The current price level presents a critical juncture for the company, with InvestingPro analysis suggesting the stock is trading above its Fair Value. For deeper insights into Impinj’s valuation and 16 additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Impinj Inc. reported fourth-quarter earnings per share of $0.48, surpassing the analyst consensus of $0.40. However, the revenue for the same period slightly missed expectations, coming in at $91.6 million against the predicted $92.76 million. Looking ahead, Impinj’s guidance for the first quarter of 2025 has raised concerns, with projected earnings per share between $0.06 and $0.11, significantly below the consensus of $0.42. The company also forecasts revenue between $70 million and $73 million for the first quarter, falling short of the expected $93.3 million. Analysts from Needham and Piper Sandler have revised their price targets for Impinj, lowering them to $130 and $140, respectively, while maintaining Buy and Overweight ratings. Needham cites the company’s potential in the grocery sector and a multi-year RFID adoption cycle as reasons for its positive stance. Piper Sandler remains optimistic about Impinj’s ability to resolve its inventory issues, anticipating a rebound in stock performance. Impinj’s CEO acknowledged the challenges facing the company but expressed confidence in leveraging its competitive advantages moving forward.
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