Kornit Digital Ltd. (NASDAQ:KRNT) posted its quarterly earnings data on Monday. The industrial products company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04, Morningstar.com reports. Kornit Digital had a positive return on equity of 5.95% and a negative net margin of 0.60%. The company had revenue of $28.59 million during the quarter, compared to analyst estimates of $29.81 million. During the same quarter last year, the company earned $0.02 EPS. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis.

Shares of Kornit Digital (NASDAQ:KRNT) traded down 4.388% during mid-day trading on Tuesday, reaching $17.975. The company’s stock had a trading volume of 367,767 shares. Kornit Digital has a one year low of $8.90 and a one year high of $23.15. The firm’s market cap is $587.03 million. The firm’s 50 day moving average is $20.12 and its 200 day moving average is $18.57.

A number of research analysts recently weighed in on KRNT shares. Zacks Investment Research lowered Kornit Digital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Citigroup Inc. set a $22.00 price objective on Kornit Digital and gave the company a “buy” rating in a research report on Tuesday, April 25th. Craig Hallum started coverage on Kornit Digital in a research report on Tuesday, July 11th. They set a “buy” rating and a $26.00 price objective for the company. Barclays PLC raised their price objective on Kornit Digital from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Wednesday, May 10th. Finally, BidaskClub lowered Kornit Digital from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.50.

Several institutional investors have recently added to or reduced their stakes in KRNT. Cowen Prime Services LLC increased its position in Kornit Digital by 104.8% in the second quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock valued at $117,000 after buying an additional 3,100 shares during the last quarter. Falcon Point Capital LLC increased its position in Kornit Digital by 2.2% in the second quarter. Falcon Point Capital LLC now owns 100,873 shares of the industrial products company’s stock valued at $1,952,000 after buying an additional 2,152 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in Kornit Digital during the second quarter valued at about $1,814,000. Gilder Gagnon Howe & Co. LLC increased its position in Kornit Digital by 14.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,910,209 shares of the industrial products company’s stock valued at $36,963,000 after buying an additional 242,177 shares during the last quarter. Finally, Sei Investments Co. increased its position in Kornit Digital by 37.1% in the second quarter. Sei Investments Co. now owns 12,487 shares of the industrial products company’s stock valued at $242,000 after buying an additional 3,376 shares during the last quarter. 63.29% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Earnings History for Kornit Digital (NASDAQ:KRNT)

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