Kornit Digital Ltd. (NASDAQ:KRNT) – Investment analysts at William Blair upped their Q3 2017 earnings per share (EPS) estimates for shares of Kornit Digital in a report issued on Tuesday. William Blair analyst B. Drab now expects that the industrial products company will earn $0.11 per share for the quarter, up from their previous forecast of $0.10. William Blair also issued estimates for Kornit Digital’s FY2017 earnings at $0.29 EPS and FY2018 earnings at $0.54 EPS.

Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. The business had revenue of $28.59 million for the quarter, compared to analyst estimates of $29.81 million. During the same period last year, the business earned $0.02 EPS. The company’s revenue was up 19.4% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: “William Blair Brokers Lift Earnings Estimates for Kornit Digital Ltd. (KRNT)” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/08/11/william-blair-brokers-lift-earnings-estimates-for-kornit-digital-ltd-krnt.html.

KRNT has been the topic of several other reports. Barclays PLC upped their price target on shares of Kornit Digital from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, May 10th. Citigroup Inc. set a $22.00 price target on shares of Kornit Digital and gave the company a “buy” rating in a report on Tuesday, April 25th. BidaskClub cut shares of Kornit Digital from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 price target on shares of Kornit Digital in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. Kornit Digital currently has an average rating of “Buy” and an average target price of $21.86.

Shares of Kornit Digital (KRNT) opened at 16.90 on Friday. Kornit Digital has a one year low of $8.90 and a one year high of $23.15. The firm’s market capitalization is $568.82 million. The stock has a 50 day moving average of $20.09 and a 200-day moving average of $18.63.

Several hedge funds have recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC boosted its stake in Kornit Digital by 64.2% in the second quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock worth $24,555,000 after buying an additional 496,117 shares during the period. Timpani Capital Management LLC boosted its stake in Kornit Digital by 40.8% in the second quarter. Timpani Capital Management LLC now owns 144,404 shares of the industrial products company’s stock worth $2,794,000 after buying an additional 41,836 shares during the period. Wells Fargo & Company MN boosted its stake in Kornit Digital by 1,540.0% in the second quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after buying an additional 7,700 shares during the period. Schroder Investment Management Group boosted its stake in Kornit Digital by 0.5% in the second quarter. Schroder Investment Management Group now owns 1,065,848 shares of the industrial products company’s stock worth $20,837,000 after buying an additional 5,178 shares during the period. Finally, Pier Capital LLC boosted its stake in Kornit Digital by 48.7% in the second quarter. Pier Capital LLC now owns 377,050 shares of the industrial products company’s stock worth $7,296,000 after buying an additional 123,419 shares during the period. 63.29% of the stock is currently owned by institutional investors and hedge funds.

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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