Kornit Digital Ltd. (KRNT) Stock Price Down 3.3%
Kornit Digital Ltd. (NASDAQ:KRNT) shares dropped 3.3% during mid-day trading on Friday . The company traded as low as $10.54 and last traded at $10.88, with a volume of 59,900 shares trading hands. The stock had previously closed at $11.25.
KRNT has been the topic of a number of recent analyst reports. TheStreet upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 target price on shares of Kornit Digital in a research report on Tuesday, July 5th. Zacks Investment Research lowered Kornit Digital from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Canaccord Genuity reiterated a “buy” rating and set a $20.00 target price on shares of Kornit Digital in a research report on Friday, July 1st. Finally, Stifel Nicolaus reduced their price objective on Kornit Digital from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.00.
The stock has a market capitalization of $332.17 million and a PE ratio of 85.16. The company’s 50-day moving average is $10.40 and its 200-day moving average is $10.20.
Kornit Digital (NASDAQ:KRNT) last released its earnings results on Tuesday, August 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.02. The firm earned $24 million during the quarter, compared to analyst estimates of $24.53 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict 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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