Kornit Digital Ltd (NASDAQ:KRNT) Expected to Announce Earnings of $0.16 Per Share

Analysts forecast that Kornit Digital Ltd (NASDAQ:KRNT) will announce $0.16 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Kornit Digital’s earnings, with the lowest EPS estimate coming in at $0.14 and the highest estimate coming in at $0.18. Kornit Digital posted earnings per share of $0.13 in the same quarter last year, which would indicate a positive year-over-year growth rate of 23.1%. The firm is expected to announce its next earnings results after the market closes on Monday, November 18th.

According to Zacks, analysts expect that Kornit Digital will report full year earnings of $0.43 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report earnings of $0.84 per share, with EPS estimates ranging from $0.82 to $0.85. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Kornit Digital.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Saturday, August 24th. BidaskClub upgraded shares of Kornit Digital from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 27th. ValuEngine upgraded shares of Kornit Digital from a “hold” rating to a “buy” rating in a report on Friday. TheStreet upgraded shares of Kornit Digital from a “c+” rating to a “b” rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus set a $35.00 price target on shares of Kornit Digital and gave the company a “buy” rating in a report on Wednesday, August 7th. One equities research 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 company’s stock. Kornit Digital currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Shares of KRNT traded up $0.03 during midday trading on Monday, hitting $34.22. The stock had a trading volume of 272,100 shares, compared to its average volume of 156,044. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.23 and a quick ratio of 6.35. Kornit Digital has a 1 year low of $16.10 and a 1 year high of $35.73. The stock’s 50 day moving average is $32.77 and its 200 day moving average is $29.88. The firm has a market cap of $1.38 billion, a PE ratio of 142.58 and a beta of 1.11.

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

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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