Kornit Digital Ltd. (KRNT) to Release Earnings on Tuesday
Kornit Digital Ltd. (NASDAQ:KRNT) is set to release its earnings data after the market closes on Tuesday, November 7th. Analysts expect Kornit Digital to post earnings of $0.14 per share for the quarter.
Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $28.59 million during the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 EPS. On average, analysts expect Kornit Digital to post $0.08 EPS for the current fiscal year and $0.43 EPS for the next fiscal year.
Kornit Digital Ltd. (KRNT) opened at 15.25 on Tuesday. The firm’s market cap is $514.46 million. Kornit Digital Ltd. has a 1-year low of $9.00 and a 1-year high of $23.15. The firm’s 50-day moving average price is $16.06 and its 200-day moving average price is $16.06.
KRNT has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Craig Hallum assumed coverage on shares of Kornit Digital in a report on Tuesday, July 11th. They set a “buy” rating and a $26.00 price target on the stock. BidaskClub cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating and set a $18.00 price target (down previously from $24.00) on shares of Kornit Digital in a report on Wednesday, September 27th. Finally, Citigroup Inc. cut shares of Kornit Digital from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.50 to $14.00 in a report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Kornit Digital has a consensus rating of “Hold” and a consensus target price of $18.83.
An institutional investor recently raised its position in Kornit Digital stock. State Street Corp grew its position in shares of Kornit Digital Ltd. (NASDAQ:KRNT) by 75.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,769 shares of the industrial products company’s stock after buying an additional 38,678 shares during the quarter. State Street Corp owned 0.27% of Kornit Digital worth $1,738,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 76.93% of the company’s stock.
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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.
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