Analysts expect Kornit Digital Ltd (NASDAQ:KRNT) to post sales of $30.51 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Kornit Digital’s earnings, with the highest sales estimate coming in at $30.62 million and the lowest estimate coming in at $30.42 million. Kornit Digital posted sales of $31.99 million during the same quarter last year, which suggests a negative year over year growth rate of 4.6%. The company is expected to announce its next earnings results on Tuesday, February 13th.
On average, analysts expect that Kornit Digital will report full-year sales of $30.51 million for the current year, with estimates ranging from $117.06 million to $117.25 million. For the next fiscal year, analysts expect that the firm will post sales of $152.02 million per share, with estimates ranging from $145.00 million to $156.84 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Kornit Digital.
A number of research analysts have issued reports on KRNT shares. Craig Hallum reduced their target price on shares of Kornit Digital from $20.00 to $26.00 in a report on Thursday, September 28th. Needham & Company LLC cut their price objective on shares of Kornit Digital from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th. Canaccord Genuity reiterated a “buy” rating and set a $18.00 price objective (down from $24.00) on shares of Kornit Digital in a report on Wednesday, September 27th. Stifel Nicolaus cut their price objective on shares of Kornit Digital from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th. Finally, Barclays PLC set a $17.00 price objective on shares of Kornit Digital and gave the stock a “buy” rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.67.
Kornit Digital (NASDAQ KRNT) opened at $15.80 on Friday. The stock has a market cap of $533.01, a PE ratio of 79.00, a price-to-earnings-growth ratio of 4.56 and a beta of 0.06. Kornit Digital has a 1-year low of $11.05 and a 1-year high of $23.15.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Stephens Investment Management Group LLC increased its position in Kornit Digital by 64.2% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock worth $24,555,000 after purchasing an additional 496,117 shares in the last quarter. First Washington CORP acquired a new stake in Kornit Digital during the 3rd quarter worth approximately $2,468,000. Timpani Capital Management LLC increased its position in Kornit Digital by 40.8% during the 2nd quarter. Timpani Capital Management LLC now owns 144,404 shares of the industrial products company’s stock worth $2,794,000 after purchasing an additional 41,836 shares in the last quarter. Lebenthal Lisanti Capital Growth LLC increased its position in Kornit Digital by 90.0% during the 2nd quarter. Lebenthal Lisanti Capital Growth LLC now owns 46,857 shares of the industrial products company’s stock worth $907,000 after purchasing an additional 22,197 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its position in Kornit Digital by 100.2% during the 2nd quarter. Essex Investment Management Co. LLC now owns 303,401 shares of the industrial products company’s stock worth $5,871,000 after purchasing an additional 151,875 shares in the last quarter. 78.04% of the stock is owned by hedge funds and other institutional investors.
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About Kornit Digital
Kornit Digital Ltd. develops, designs and markets digital printing solutions for the global printed textile industry. The Company’s solutions include its digital printing systems, ink and other consumables, associated software and value added services. Its customers include custom decorators, online businesses, brand owners and contract printers.
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