IMPINJ INC (NASDAQ:PI) is a candidate for high growth investors. Here's why.

Our stock screener has detected a potential breakout setup on IMPINJ INC (NASDAQ:PI). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NASDAQ:PI.

Technical analysis of NASDAQ:PI

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 8 out of 10 to PI. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that PI is one of the better performing stocks in the market, outperforming 94% of all stocks. We also observe that the gains produced by PI over the past year are nicely spread over this period.
• PI is part of the Semiconductors & Semiconductor Equipment industry. There are 108 other stocks in this industry. PI outperforms 93% of them.
• PI is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so PI is lagging the market slightly.
• In the last month PI has a been trading in the 172.03 - 211.45 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of PI contains the most current technical analsysis.

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:PI has a 7 as its setup rating:

PI has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price.

Some of the high growth metrics of NASDAQ:PI highlighted

• With a favorable trend in its quarter-to-quarter (Q2Q) earnings per share (EPS), IMPINJ INC highlights its ability to generate increasing profitability, showcasing a 14.0K% growth.
• IMPINJ INC has demonstrated strong quarter-to-quarter (Q2Q) revenue growth of 46.45%, reflecting its ability to generate consistent increases in sales. This growth highlights the company's effective market positioning and its potential for continued success.
• IMPINJ INC has achieved significant 1-year revenue growth of 34.61%, signaling its ability to capture market opportunities and drive top-line expansion. This growth indicates the company's effective execution and its potential for continued success.
• Over the past 3 months, analysts have adjusted their EPS Estimate for IMPINJ INC with a 39.11% change. This highlights the evolving outlook on the company's EPS potential.
• The recent financial report of IMPINJ INC demonstrates a 14.0K% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• The earnings per share (EPS) growth of IMPINJ INC are accelerating: the current Q2Q growth of 14.0K% is above the previous year Q2Q growth of -98.82%. Earnings momentum and acceleration are key for high growth systems.
• With a favorable trend in its operating margin over the past year, IMPINJ INC demonstrates its ability to enhance profitability through efficient operations. This growth reflects the company's focus on optimizing its cost structure.
• With a favorable trend in its free cash flow (FCF) over the past year, IMPINJ INC demonstrates its ability to generate robust cash flows and maintain financial stability. This growth reflects the company's focus on efficient capital allocation and cash management.
• IMPINJ INC has achieved an impressive Return on Equity (ROE) of 49.8%, showcasing its ability to generate favorable returns for shareholders.
• IMPINJ INC maintains a healthy Debt-to-Equity ratio of 0.0. This indicates the company's conservative capital structure and signifies its ability to effectively manage debt obligations while maintaining a strong equity position.
• IMPINJ INC has consistently surpassed EPS estimates in the last 4 quarters, reflecting its strong financial performance and effective management. This trend suggests the company's ability to generate positive earnings surprises and drive shareholder value.
• The Relative Strength (RS) of IMPINJ INC has been consistently solid, with a current 94.45 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. IMPINJ INC exhibits strong prospects for further price appreciation.

Our High Growth Momentum Breakout screen will find you more ideas suited for high growth momentum breakouts.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.