Brokerages forecast that Kornit Digital Ltd. (NASDAQ:KRNT) will post sales of $29.85 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kornit Digital’s earnings, with the lowest sales estimate coming in at $29.70 million and the highest estimate coming in at $30.00 million. Kornit Digital posted sales of $23.95 million in the same quarter last year, which suggests a positive year over year growth rate of 24.6%. The business is expected to report its next quarterly earnings report on Tuesday, August 1st.

According to Zacks, analysts expect that Kornit Digital will report full year sales of $29.85 million for the current financial year, with estimates ranging from $132.73 million to $138.00 million. For the next year, analysts expect that the business will post sales of $171.46 million per share, with estimates ranging from $165.91 million to $177.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Tuesday, May 9th. The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by $0.04. The firm had revenue of $27.10 million for the quarter, compared to the consensus estimate of $29.20 million. Kornit Digital had a negative net margin of 0.60% and a positive return on equity of 5.95%. Kornit Digital’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share.

A number of research analysts have recently commented on KRNT shares. Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Wednesday. Craig Hallum started coverage on Kornit Digital in a research note on Tuesday. They set a “buy” rating and a $26.00 target price on the stock. Barclays PLC upped their target price on Kornit Digital from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, May 10th. Citigroup Inc. set a $22.00 target price on Kornit Digital and gave the company a “buy” rating in a research note on Tuesday, April 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Kornit Digital in a research note on Friday, March 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.50.

Shares of Kornit Digital (NASDAQ KRNT) traded up 1.19% during trading on Friday, hitting $21.20. The stock had a trading volume of 115,438 shares. Kornit Digital has a 12 month low of $8.90 and a 12 month high of $23.15. The company’s market cap is $692.35 million. The stock has a 50 day moving average of $18.95 and a 200 day moving average of $17.49.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC boosted its position in Kornit Digital by 174.8% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,668,032 shares of the industrial products company’s stock worth $31,859,000 after buying an additional 1,061,003 shares in the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of Kornit Digital during the first quarter valued at about $14,762,000. Granahan Investment Management Inc. MA boosted its position in shares of Kornit Digital by 273.6% in the first quarter. Granahan Investment Management Inc. MA now owns 878,313 shares of the industrial products company’s stock valued at $16,776,000 after buying an additional 643,213 shares during the period. Blair William & Co. IL boosted its position in shares of Kornit Digital by 134.3% in the first quarter. Blair William & Co. IL now owns 979,099 shares of the industrial products company’s stock valued at $17,683,000 after buying an additional 561,155 shares during the period. Finally, United Services Automobile Association boosted its position in shares of Kornit Digital by 256.1% in the first quarter. United Services Automobile Association now owns 443,390 shares of the industrial products company’s stock valued at $8,469,000 after buying an additional 318,890 shares during the period. 58.69% of the stock is currently owned by hedge funds and other institutional investors.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.

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