Kornit Digital Ltd. (KRNT) Trading Up 5.3%
Kornit Digital Ltd. (NASDAQ:KRNT) shares were up 5.3% during mid-day trading on Tuesday . The stock traded as high as $10.77 and last traded at $10.65, with a volume of 51,141 shares. The stock had previously closed at $10.11.
Several research analysts have recently issued reports on KRNT shares. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 target price on shares of Kornit Digital in a research note on Tuesday, July 5th. Zacks Investment Research downgraded shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. Canaccord Genuity restated a “buy” rating and set a $20.00 price objective on shares of Kornit Digital in a research report on Friday, July 1st. Stifel Nicolaus lowered their price objective on shares of Kornit Digital from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Finally, TheStreet upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $16.00.
The firm has a market cap of $318.45 million and a price-to-earnings ratio of 81.64. The firm has a 50-day moving average of $10.01 and a 200-day moving average of $10.21.
Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Tuesday, August 2nd. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $24 million for the quarter, compared to analyst estimates of $24.53 million. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts predict that Kornit Digital Ltd. will post $0.27 EPS for the current fiscal year.
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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