Kornit Digital Ltd. (KRNT) Trading 5.3% Higher
Kornit Digital Ltd. (NASDAQ:KRNT) traded up 5.3% on Tuesday . The company traded as high as $10.77 and last traded at $10.65, with a volume of 51,141 shares changing hands. The stock had previously closed at $10.11.
Several equities research analysts recently weighed in on KRNT shares. Zacks Investment Research downgraded Kornit Digital from a “hold” rating to a “strong sell” rating in a report on Thursday, August 4th. Stifel Nicolaus cut their price objective on Kornit Digital from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Canaccord Genuity reissued a “buy” rating and set a $20.00 price objective on shares of Kornit Digital in a report on Friday, June 10th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Kornit Digital in a report on Tuesday, July 5th. Finally, TheStreet raised Kornit Digital from a “sell” rating to a “hold” rating in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $16.00.
The stock has a 50-day moving average of $10.05 and a 200 day moving average of $10.21. The company has a market capitalization of $323.94 million and a price-to-earnings ratio of 83.05.
Kornit Digital (NASDAQ:KRNT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.02 earnings per share (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 firm earned $0.07 earnings per share. Kornit Digital’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Kornit Digital Ltd. will post $0.27 earnings per share for the current 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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