Zacks: Analysts expect Kornit Digital Ltd. (NASDAQ: KRNT) reports earnings of $0.26 per share

Equity research analysts predict that Kornit Digital Ltd. (NASDAQ:KRNT – Get a rating) will report earnings of $0.26 per share for the current fiscal quarter, according to Zacks. Zero analysts provided earnings estimates for Kornit Digital, with the highest EPS estimate of $0.27 and the lowest estimate of $0.25. Kornit Digital reported earnings of $0.22 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 18.2%. The company is expected to release its next quarterly results on Monday, January 1.

According to Zacks, analysts expect Kornit Digital to report annual earnings of $1.05 per share for the current fiscal year, with EPS estimates ranging from $0.95 to $1.14. For the next fiscal year, analysts expect the company to post earnings of $1.56 per share, with EPS estimates ranging from $1.55 to $1.57. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts who provide coverage for Kornit Digital.

A number of equity research analysts have commented on KRNT’s actions. StockNews.com purported coverage of Kornit Digital shares in a Thursday, March 31 research report. They issued a “sell” rating on the stock. Zacks Investment Research upgraded Kornit Digital’s shares from a “strong sell” rating to a “hold” rating in a Wednesday, April 20 research report. Finally, Needham & Company LLC lowered its price target on Kornit Digital stock from $202.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, April 21. One analyst rated the stock with a sell rating, another assigned a hold rating and five assigned the stock a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $173.80.

Kornit Digital stock traded at $2.13 midday Friday, hitting $40.68. The stock had a trading volume of 739,894 shares, compared to an average volume of 1,014,200. Kornit Digital has a 52-week low of $31.01 and a 52-week high of $181.38. The company has a fifty-day moving average of $69.92 and a 200-day moving average of $105.37. The company has a market capitalization of $2.02 billion, a price-earnings ratio of 339.03 and a beta of 1.91.

Hedge funds have recently increased or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in Kornit Digital stock in Q1 worth $25,000. Northwestern Mutual Wealth Management Co. acquired a new equity stake in Kornit Digital in Q1 worth $28,000. Schroder Investment Management Group bought a new stock position in Kornit Digital in Q4, valued at around $30,000. HM Payson & Co. bought a new stock position in Kornit Digital in Q4, valued at around $39,000. Finally, Signaturefd LLC increased its equity stake in Kornit Digital by 135.6% in the 1st quarter. Signaturefd LLC now owns 549 shares of the industrial products company valued at $45,000 after buying 316 additional shares last quarter. Institutional investors hold 92.13% of the company’s shares.

Company Profile Kornit Digital (Get a rating)

Kornit Digital Ltd. develops, designs and markets digital printing solutions for the fashion, apparel and home décor segments of the printed textile industry in the United States, Europe, Middle East, Africa, Asia-Pacific and internationally. The company’s solutions include digital printing systems, ink and other consumables, associated software and value-added services.

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