$0.11 EPS Expected for Kornit Digital Ltd (KRNT) This Quarter

Brokerages expect Kornit Digital Ltd (NASDAQ:KRNT) to post earnings per share of $0.11 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Kornit Digital’s earnings, with the highest EPS estimate coming in at $0.12 and the lowest estimate coming in at $0.09. Kornit Digital reported earnings of $0.05 per share during the same quarter last year, which suggests a positive year over year growth rate of 120%. The firm is expected to announce its next earnings results after the market closes on Monday, November 12th.

According to Zacks, analysts expect that Kornit Digital will report full-year earnings of $0.34 per share for the current year. For the next fiscal year, analysts anticipate that the company will report earnings of $0.66 per share, with EPS estimates ranging from $0.65 to $0.66. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Kornit Digital.

Several equities analysts recently weighed in on KRNT shares. ValuEngine upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. Barclays set a $24.00 price objective on shares of Kornit Digital and gave the company a “buy” rating in a report on Saturday, October 13th. BidaskClub raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Needham & Company LLC upped their target price on shares of Kornit Digital from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Finally, Citigroup assumed coverage on shares of Kornit Digital in a research note on Wednesday, July 18th. They issued a “neutral” rating and a $20.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.60.

Large investors have recently modified their holdings of the business. West Chester Capital Advisors Inc. bought a new stake in Kornit Digital in the second quarter valued at approximately $178,000. Wells Fargo & Company MN increased its stake in Kornit Digital by 65.5% in the first 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 in the last quarter. California State Teachers Retirement System bought a new stake in Kornit Digital in the first quarter valued at approximately $194,000. Engineers Gate Manager LP bought a new stake in Kornit Digital in the second quarter valued at approximately $201,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Kornit Digital in the second quarter valued at approximately $260,000. 94.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ KRNT opened at $20.06 on Friday. Kornit Digital has a fifty-two week low of $11.70 and a fifty-two week high of $22.20. The company has a market capitalization of $694.72 million, a P/E ratio of 168.75 and a beta of 0.67.

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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