Wall Street analysts expect Kornit Digital Ltd (NASDAQ:KRNT) to report $37.58 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kornit Digital’s earnings, with the lowest sales estimate coming in at $37.46 million and the highest estimate coming in at $37.70 million. Kornit Digital posted sales of $28.45 million in the same quarter last year, which would indicate a positive year over year growth rate of 32.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Kornit Digital will report full-year sales of $143.19 million for the current year, with estimates ranging from $142.50 million to $143.87 million. For the next fiscal year, analysts anticipate that the business will post sales of $172.83 million per share, with estimates ranging from $172.65 million to $173.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Kornit Digital.
Kornit Digital (NASDAQ:KRNT) last released its earnings results on Monday, August 6th. The industrial products company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. Kornit Digital had a return on equity of 2.69% and a net margin of 1.47%. The firm had revenue of $35.90 million during the quarter, compared to analysts’ expectations of $35.26 million. During the same quarter last year, the business posted $0.09 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis.
KRNT has been the subject of several research analyst reports. ValuEngine upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Friday, August 3rd. Citigroup initiated coverage on Kornit Digital in a research report on Wednesday, July 18th. They set a “neutral” rating and a $20.00 target price for the company. Barclays reiterated a “buy” rating and set a $22.00 target price on shares of Kornit Digital in a research report on Wednesday, August 8th. BidaskClub upgraded Kornit Digital from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. Finally, Canaccord Genuity increased their price target on Kornit Digital from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, June 8th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $21.67.
NASDAQ:KRNT opened at $20.30 on Friday. Kornit Digital has a 12-month low of $11.70 and a 12-month high of $22.20. The stock has a market cap of $758.19 million, a P/E ratio of 184.17 and a beta of 0.39.
A number of institutional investors have recently made changes to their positions in KRNT. ETF Managers Group LLC lifted its stake in shares of Kornit Digital by 20.0% in the 1st quarter. ETF Managers Group LLC now owns 20,666 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 3,444 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of Kornit Digital by 35.9% in the 1st quarter. Citadel Advisors LLC now owns 15,647 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 4,137 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Kornit Digital by 65.5% in the 1st quarter. Wells Fargo & Company MN now owns 14,146 shares of the industrial products company’s stock valued at $182,000 after purchasing an additional 5,600 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Kornit Digital by 6.3% in the 1st quarter. Northern Trust Corp now owns 96,463 shares of the industrial products company’s stock valued at $1,245,000 after purchasing an additional 5,754 shares during the last quarter. Finally, West Chester Capital Advisors Inc. bought a new stake in shares of Kornit Digital in the 2nd quarter valued at approximately $178,000. 95.07% of the stock is owned by institutional investors.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.
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