$91.07 Million in Sales Expected for Kornit Digital Ltd. (NASDAQ:KRNT) This Quarter

Equities research analysts expect Kornit Digital Ltd. (NASDAQ:KRNT) to report sales of $91.07 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Kornit Digital’s earnings, with the highest sales estimate coming in at $91.13 million and the lowest estimate coming in at $91.00 million. Kornit Digital reported sales of $72.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 26%. The business is expected to issue its next quarterly earnings results on Tuesday, February 15th.

On average, analysts expect that Kornit Digital will report full-year sales of $325.50 million for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will report sales of $419.53 million, with estimates ranging from $410.00 million to $429.06 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last released its quarterly earnings data on Wednesday, November 10th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $86.67 million during the quarter, compared to the consensus estimate of $90.16 million. Kornit Digital had a net margin of 6.67% and a return on equity of 5.26%. During the same period in the previous year, the firm earned $0.13 earnings per share.

Several brokerages have recently issued reports on KRNT. Barclays boosted their price objective on Kornit Digital from $180.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 4th. Stifel Nicolaus boosted their target price on shares of Kornit Digital from $150.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, November 11th. TheStreet downgraded shares of Kornit Digital from a “b-” rating to a “c+” rating in a research note on Monday, December 6th. Craig Hallum raised shares of Kornit Digital to a “buy” rating and upped their price target for the stock from $140.00 to $180.00 in a research note on Thursday, November 11th. Finally, Zacks Investment Research upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday, October 13th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Kornit Digital has an average rating of “Buy” and an average target price of $168.00.

Shares of NASDAQ:KRNT opened at $98.60 on Friday. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 229.30 and a beta of 1.73. Kornit Digital has a 1-year low of $84.21 and a 1-year high of $181.38. The company’s fifty day moving average is $143.75 and its two-hundred day moving average is $141.03.

Several institutional investors and hedge funds have recently modified their holdings of KRNT. Invesco Ltd. grew its stake in shares of Kornit Digital by 24.3% in the third quarter. Invesco Ltd. now owns 2,125,245 shares of the industrial products company’s stock valued at $307,608,000 after acquiring an additional 415,973 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Kornit Digital by 0.8% during the third quarter. Artisan Partners Limited Partnership now owns 1,960,721 shares of the industrial products company’s stock worth $283,795,000 after buying an additional 16,478 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Kornit Digital by 14.2% in the third quarter. Macquarie Group Ltd. now owns 1,139,513 shares of the industrial products company’s stock valued at $164,933,000 after purchasing an additional 142,048 shares during the period. BlackRock Inc. increased its holdings in Kornit Digital by 11.5% in the third quarter. BlackRock Inc. now owns 1,111,370 shares of the industrial products company’s stock valued at $160,860,000 after purchasing an additional 114,902 shares during the period. Finally, Blair William & Co. IL boosted its position in Kornit Digital by 8.0% during the second quarter. Blair William & Co. IL now owns 933,372 shares of the industrial products company’s stock valued at $116,046,000 after acquiring an additional 68,940 shares during the last quarter. 91.40% of the stock is currently owned by institutional investors.

Kornit Digital Company Profile

Kornit Digital Ltd. engages in the development, manufacture, and marketing of industrial and commercial printing solutions for the garment, apparel and textile industries. It offers printing solutions for apparel, polyester, sportswear, beachwear, accessories, paradigm shirt, textiles, curtains, cushions and couches.

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