Zacks: Analysts Anticipate Kornit Digital Ltd (KRNT) Will Post Earnings of $0.06 Per Share

Analysts expect Kornit Digital Ltd (NASDAQ:KRNT) to post earnings of $0.06 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Kornit Digital’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.06. Kornit Digital reported earnings of $0.16 per share during the same quarter last year, which indicates a negative year over year growth rate of 62.5%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 13th.

According to Zacks, analysts expect that Kornit Digital will report full year earnings of $0.21 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.21. For the next fiscal year, analysts anticipate that the company will report earnings of $0.49 per share, with EPS estimates ranging from $0.45 to $0.53. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Tuesday, November 7th. The industrial products company reported $0.02 EPS for the quarter. Kornit Digital had a negative net margin of 0.71% and a positive return on equity of 4.62%.

A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of Kornit Digital from a “c” rating to a “b-” rating in a research note on Thursday, January 11th. Stifel Nicolaus reduced their price target on shares of Kornit Digital from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 27th. Craig Hallum reduced their price target on shares of Kornit Digital from $20.00 to $26.00 in a research note on Thursday, September 28th. Barclays set a $19.00 price target on shares of Kornit Digital and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $18.00 price target (down from $24.00) on shares of Kornit Digital in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $19.00.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in Kornit Digital by 49.4% during the 2nd quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock worth $151,000 after buying an additional 2,583 shares during the period. Wells Fargo & Company MN increased its stake in Kornit Digital by 1,540.0% during the 2nd quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after buying an additional 7,700 shares during the period. BlueCrest Capital Management Ltd purchased a new stake in Kornit Digital during the 2nd quarter worth approximately $198,000. ETF Managers Group LLC purchased a new stake in Kornit Digital during the 2nd quarter worth approximately $211,000. Finally, Hood River Capital Management LLC purchased a new stake in Kornit Digital during the 3rd quarter worth approximately $246,000. 78.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Kornit Digital (NASDAQ:KRNT) remained flat at $$15.05 during mid-day trading on Monday. The stock had a trading volume of 747,246 shares, compared to its average volume of 472,350. Kornit Digital has a 12-month low of $12.85 and a 12-month high of $23.15. The company has a market capitalization of $534.70, a PE ratio of -1,505.00, a P/E/G ratio of 1.12 and a beta of 0.17.

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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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