Kornit Digital Ltd. (KRNT) Stock Price Down 3.3%
Kornit Digital Ltd. (NASDAQ:KRNT) was down 3.3% during mid-day trading on Friday . The stock traded as low as $10.54 and last traded at $10.88, with a volume of 59,900 shares changing hands. The stock had previously closed at $11.25.
Several equities research analysts have recently weighed in on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $20.00 price target on shares of Kornit Digital in a research report on Friday, June 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price target on shares of Kornit Digital in a research report on Tuesday, July 5th. Stifel Nicolaus lowered their price target on shares of Kornit Digital from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 3rd. Zacks Investment Research cut shares of Kornit Digital from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. Finally, TheStreet raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Kornit Digital presently has an average rating of “Buy” and a consensus target price of $16.00.
The company has a 50-day moving average of $10.38 and a 200-day moving average of $10.19. The stock has a market capitalization of $332.17 million and a PE ratio of 85.16.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.02 earnings per share 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 period in the previous year, the company posted $0.07 EPS. Kornit Digital’s revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast 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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