Why Impinj Stock Is Skyrocketing to All-Time Highs Today
Shares of Impinj (NASDAQ: PI) soared to a new all-time high on Thursday, following the release of impressive third-quarter results. The stock traded 27% higher at 2:40 p.m. ET, just a shade below the peak gain of 28.8% about an hour earlier.
The maker of tracking chips, data readers, and information management tools for radio-frequency identification (RFID) systems saw third-quarter sales race 51% above the year-ago result, stopping at $68.3 million. The adjusted bottom line swung from a net loss of $0.04 per diluted share to positive earnings of $0.34 per share.
The average Street analyst would have settled for earnings near $0.16 per share on revenue in the neighborhood of $34.7 million. Furthermore, management set fourth-quarter earnings and revenue targets comfortably ahead of the current analyst views.
Source Fool.com
