another version with a little more info
The analyst commented, "We anticipate Impinj will post strong revenue, earnings, and cash flow results in 3Q25, driven by strong enterprise demand for endpoint ICs (Gen2X and M800 adoptions) and systems. We raise our 3Q25, 2025, and 2026 revenue estimates 2%, 2%, and 4%, respectively. Likewise, we increase our 3Q25, 2025, and 2026 EPS estimates 9%, 6%, and 21%, respectively. For 2026, we are modeling y/y revenue growth of 26% in ICs and 8% in systems (23.1% blended). We introduce our 2027 revenue and EPS estimates, in which we are modeling 20% y/y IC growth and 7% y/y systems growth (18.2% blended). During 3Q, the company refinanced $190M of its $287.5M outstanding convertible debt. Reflecting strong enterprise demand and greater financial flexibility, we raise our 12-month price target to $217 from $158 and reiterate our Overweight rating. Our price target is based on a 2027 EV/Sales multiple of 13.0x our 2027 sales estimate (vs. 2026 EV/Sales multiple of 11.5x our 2026 sales estimate, previously)." |
