Analysts forecast that Kornit Digital Ltd (NASDAQ:KRNT) will report $29.84 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Kornit Digital’s earnings. The highest sales estimate is $30.41 million and the lowest is $29.50 million. Kornit Digital posted sales of $27.10 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.1%. The firm is scheduled to issue its next earnings report on Tuesday, May 8th.
According to Zacks, analysts expect that Kornit Digital will report full-year sales of $29.84 million for the current fiscal year, with estimates ranging from $149.50 million to $156.40 million. For the next financial year, analysts expect that the company will post sales of $190.22 million per share, with estimates ranging from $180.00 million to $197.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Kornit Digital.
Kornit Digital (NASDAQ:KRNT) last posted its quarterly earnings results on Tuesday, February 13th. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $29.95 million for the quarter, compared to analysts’ expectations of $30.51 million. Kornit Digital had a positive return on equity of 1.68% and a negative net margin of 1.77%.
KRNT has been the subject of several analyst reports. Citigroup raised shares of Kornit Digital from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, January 23rd. Needham & Company LLC cut their price target on shares of Kornit Digital from $19.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Zacks Investment Research cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. TheStreet lowered shares of Kornit Digital from a “b-” rating to a “c” rating in a research report on Thursday, February 15th. Finally, BidaskClub lowered shares of Kornit Digital from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Kornit Digital has an average rating of “Buy” and a consensus price target of $19.67.
Institutional investors and hedge funds have recently modified their holdings of the business. Boothbay Fund Management LLC acquired a new position in Kornit Digital during the third quarter worth about $335,000. Janus Henderson Group PLC acquired a new position in Kornit Digital during the third quarter worth about $8,850,000. American Capital Management Inc. grew its position in Kornit Digital by 80.1% during the fourth quarter. American Capital Management Inc. now owns 1,967,532 shares of the industrial products company’s stock worth $31,776,000 after buying an additional 874,944 shares during the period. First Washington CORP acquired a new position in Kornit Digital during the third quarter worth about $2,468,000. Finally, Parametric Portfolio Associates LLC grew its position in Kornit Digital by 97.4% during the second quarter. Parametric Portfolio Associates LLC now owns 78,516 shares of the industrial products company’s stock worth $1,519,000 after buying an additional 38,738 shares during the period. Institutional investors own 86.44% of the company’s stock.
Kornit Digital (NASDAQ KRNT) opened at $13.15 on Tuesday. The stock has a market cap of $443.62, a PE ratio of 164.38, a P/E/G ratio of 0.97 and a beta of 0.02. Kornit Digital has a 1-year low of $11.70 and a 1-year high of $23.15.
Kornit Digital Company Profile
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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