Analysts expect Kornit Digital Ltd (NASDAQ:KRNT) to announce $48.54 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Kornit Digital’s earnings, with estimates ranging from $48.28 million to $48.80 million. Kornit Digital reported sales of $37.59 million during the same quarter last year, which indicates a positive year over year growth rate of 29.1%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 11th.
According to Zacks, analysts expect that Kornit Digital will report full-year sales of $182.26 million for the current financial year, with estimates ranging from $181.52 million to $183.00 million. For the next fiscal year, analysts forecast that the business will report sales of $225.91 million, with estimates ranging from $217.82 million to $234.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Kornit Digital.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $43.89 million during the quarter, compared to the consensus estimate of $45.91 million. Kornit Digital had a return on equity of 3.04% and a net margin of 5.69%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share.
Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Kornit Digital by 3.9% in the fourth quarter. Bank of America Corp DE now owns 408,318 shares of the industrial products company’s stock worth $7,644,000 after buying an additional 15,377 shares in the last quarter. CWM LLC raised its stake in Kornit Digital by 19.5% in the first quarter. CWM LLC now owns 209,812 shares of the industrial products company’s stock worth $4,994,000 after buying an additional 34,278 shares in the last quarter. Chicago Capital LLC raised its stake in Kornit Digital by 4.7% in the first quarter. Chicago Capital LLC now owns 1,245,337 shares of the industrial products company’s stock worth $29,639,000 after buying an additional 55,506 shares in the last quarter. Redmond Asset Management LLC raised its stake in Kornit Digital by 1.5% in the first quarter. Redmond Asset Management LLC now owns 28,153 shares of the industrial products company’s stock worth $670,000 after buying an additional 419 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Kornit Digital in the first quarter worth about $165,000. 92.81% of the stock is owned by hedge funds and other institutional investors.
Kornit Digital stock traded up $0.20 during mid-day trading on Wednesday, hitting $27.74. The company’s stock had a trading volume of 115,700 shares, compared to its average volume of 350,945. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.23 and a quick ratio of 6.35. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 115.58 and a beta of 1.05. The business has a 50 day moving average price of $29.64 and a 200-day moving average price of $26.56. Kornit Digital has a 12 month low of $16.10 and a 12 month high of $32.20.
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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