Equities research analysts expect that Kornit Digital Ltd (NASDAQ:KRNT) will announce earnings per share of ($0.01) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kornit Digital’s earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.02). Kornit Digital reported earnings per share of $0.02 in the same quarter last year, which suggests a negative year over year growth rate of 150%. The business is scheduled to report its next quarterly earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Kornit Digital will report full-year earnings of $0.48 per share for the current fiscal year, with EPS estimates ranging from $0.45 to $0.51. For the next financial year, analysts anticipate that the business will post earnings of $0.75 per share, with EPS estimates ranging from $0.65 to $0.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Kornit Digital.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Kornit Digital had a negative net margin of 1.77% and a positive return on equity of 1.68%. The company had revenue of $29.95 million for the quarter, compared to analyst estimates of $30.51 million.
Several research analysts have recently commented on KRNT shares. Citigroup raised shares of Kornit Digital from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, January 23rd. Needham & Company LLC lowered their price objective on shares of Kornit Digital from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Zacks Investment Research lowered shares of Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. TheStreet lowered shares of Kornit Digital from a “b-” rating to a “c” rating in a research note on Thursday, February 15th. Finally, BidaskClub lowered shares of Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.67.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Kornit Digital in the fourth quarter worth approximately $103,000. Wells Fargo & Company MN lifted its stake in Kornit Digital by 973.6% in the fourth quarter. Wells Fargo & Company MN now owns 8,546 shares of the industrial products company’s stock worth $138,000 after acquiring an additional 7,750 shares during the last quarter. Citadel Advisors LLC purchased a new position in Kornit Digital in the fourth quarter worth approximately $186,000. BlueCrest Capital Management Ltd purchased a new position in Kornit Digital in the second quarter worth approximately $198,000. Finally, Winslow Evans & Crocker Inc. lifted its stake in Kornit Digital by 147.9% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 14,876 shares of the industrial products company’s stock worth $240,000 after acquiring an additional 8,876 shares during the last quarter. 86.44% of the stock is owned by institutional investors and hedge funds.
Kornit Digital (NASDAQ:KRNT) traded down $0.15 during midday trading on Friday, hitting $13.00. 455,600 shares of the stock traded hands, compared to its average volume of 387,931. Kornit Digital has a twelve month low of $11.70 and a twelve month high of $23.15. The stock has a market capitalization of $443.62, a price-to-earnings ratio of -259.95, a price-to-earnings-growth ratio of 0.97 and a beta of 0.02.
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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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