Kornit Digital Ltd (NASDAQ:KRNT) Expected to Announce Quarterly Sales of $48.54 Million

Equities analysts expect that Kornit Digital Ltd (NASDAQ:KRNT) will post $48.54 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Kornit Digital’s earnings, with the lowest sales estimate coming in at $48.28 million and the highest estimate coming in at $48.80 million. Kornit Digital posted sales of $37.59 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 29.1%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, November 18th.

According to Zacks, analysts expect that Kornit Digital will report full-year sales of $182.26 million for the current year, with estimates ranging from $181.52 million to $183.00 million. For the next year, analysts anticipate that the firm will post sales of $225.91 million, with estimates ranging from $217.82 million to $234.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Kornit Digital.

Several research firms have recently weighed in on KRNT. Stifel Nicolaus set a $35.00 target price on Kornit Digital and gave the company a “buy” rating in a report on Wednesday, August 7th. ValuEngine upgraded Kornit Digital from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub upgraded Kornit Digital from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 27th. TheStreet upgraded Kornit Digital from a “c+” rating to a “b” rating in a research report on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Kornit Digital from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 24th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $29.00.

A number of hedge funds have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd increased its position in Kornit Digital by 15.2% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,954,254 shares of the industrial products company’s stock worth $93,532,000 after purchasing an additional 390,395 shares during the period. Wasatch Advisors Inc. increased its position in Kornit Digital by 268.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 2,943,063 shares of the industrial products company’s stock worth $93,177,000 after purchasing an additional 2,143,724 shares during the period. BlackRock Inc. increased its position in Kornit Digital by 108.3% during the 2nd quarter. BlackRock Inc. now owns 1,249,328 shares of the industrial products company’s stock worth $39,555,000 after purchasing an additional 649,662 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in Kornit Digital by 30.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 981,593 shares of the industrial products company’s stock worth $31,077,000 after purchasing an additional 230,000 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Kornit Digital by 15.1% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 818,229 shares of the industrial products company’s stock worth $25,185,000 after purchasing an additional 107,355 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

KRNT traded up $0.03 on Wednesday, hitting $34.22. 272,100 shares of the company were exchanged, compared to its average volume of 156,044. Kornit Digital has a twelve month low of $16.10 and a twelve month high of $35.73. The company has a current ratio of 7.23, a quick ratio of 6.35 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 142.58 and a beta of 1.11. The firm has a 50-day moving average price of $32.77 and a two-hundred day moving average price of $29.88.

Kornit Digital Company Profile

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.

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