Brokerages expect Kornit Digital Ltd (NASDAQ:KRNT) to announce $0.13 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Kornit Digital’s earnings, with estimates ranging from $0.12 to $0.13. Kornit Digital reported earnings of $0.04 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 225%. The business is expected to report its next earnings report on Tuesday, February 12th.
According to Zacks, analysts expect that Kornit Digital will report full-year earnings of $0.41 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will post earnings of $0.66 per share, with EPS estimates ranging from $0.65 to $0.66. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Kornit Digital.
Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Monday, November 12th. The industrial products company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.01. Kornit Digital had a return on equity of 4.53% and a net margin of 3.78%. The business had revenue of $37.60 million during the quarter, compared to analyst estimates of $37.65 million. During the same quarter in the previous year, the firm earned $0.05 EPS. Kornit Digital’s revenue was up 32.4% on a year-over-year basis.
A number of equities analysts have weighed in on KRNT shares. BidaskClub raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. Barclays set a $24.00 target price on Kornit Digital and gave the stock a “buy” rating in a research report on Saturday, October 13th. Needham & Company LLC boosted their target price on Kornit Digital from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, October 5th. TheStreet raised Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, November 14th. Finally, ValuEngine raised Kornit Digital from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 13th. Three equities 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. Kornit Digital has a consensus rating of “Buy” and a consensus price target of $22.60.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at about $201,000. Jefferies Group LLC purchased a new stake in shares of Kornit Digital during the 3rd quarter valued at about $210,000. Virtu Financial LLC purchased a new stake in shares of Kornit Digital during the 3rd quarter valued at about $227,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Kornit Digital during the 2nd quarter valued at about $260,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Kornit Digital during the 3rd quarter valued at about $309,000. 89.10% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:KRNT traded down $1.48 during mid-day trading on Monday, reaching $18.66. The company’s stock had a trading volume of 445,106 shares, compared to its average volume of 387,501. Kornit Digital has a 12-month low of $11.70 and a 12-month high of $23.90. The firm has a market cap of $704.76 million, a price-to-earnings ratio of 100.68 and a beta of 0.74.
About Kornit Digital
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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