Wall Street brokerages expect Kornit Digital Ltd (NASDAQ:KRNT) to post sales of $37.92 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Kornit Digital’s earnings, with the lowest sales estimate coming in at $37.90 million and the highest estimate coming in at $37.93 million. Kornit Digital reported sales of $29.95 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.6%. The company is expected to announce its next quarterly earnings report on Tuesday, February 12th.
On average, analysts expect that Kornit Digital will report full-year sales of $144.08 million for the current financial year, with estimates ranging from $142.50 million to $145.66 million. For the next financial year, analysts anticipate that the company will post sales of $174.69 million, with estimates ranging from $173.00 million to $176.38 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Kornit Digital.
Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Monday, November 12th. The industrial products company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $37.60 million during the quarter, compared to analysts’ expectations of $37.65 million. Kornit Digital had a return on equity of 4.53% and a net margin of 3.78%. The business’s revenue was up 32.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS.
A number of analysts recently issued reports on KRNT shares. BidaskClub cut Kornit Digital from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. ValuEngine raised Kornit Digital from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Needham & Company LLC upped their price objective on Kornit Digital from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, October 5th. Stifel Nicolaus upped their price objective on Kornit Digital from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Barclays set a $24.00 price objective on Kornit Digital and gave the company a “buy” rating in a research note on Saturday, October 13th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Kornit Digital presently has an average rating of “Buy” and a consensus price target of $22.60.
Shares of NASDAQ KRNT traded down $1.48 during trading hours on Wednesday, reaching $18.66. The stock had a trading volume of 445,106 shares, compared to its average volume of 387,501. The stock has a market cap of $704.76 million, a PE ratio of 100.68 and a beta of 0.74. Kornit Digital has a fifty-two week low of $11.70 and a fifty-two week high of $23.90.
A number of institutional investors and hedge funds have recently bought and sold shares of KRNT. Engineers Gate Manager LP purchased a new stake in Kornit Digital during the 2nd quarter valued at approximately $201,000. Jefferies Group LLC purchased a new stake in Kornit Digital during the 3rd quarter valued at approximately $210,000. Virtu Financial LLC purchased a new stake in Kornit Digital during the 3rd quarter valued at approximately $227,000. Cubist Systematic Strategies LLC purchased a new stake in Kornit Digital during the 2nd quarter valued at approximately $260,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Kornit Digital during the 3rd quarter valued at approximately $309,000. 89.10% of the stock is owned by hedge funds and other 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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