Somewhat Positive News Coverage Somewhat Unlikely to Impact Kornit Digital (KRNT) Share Price
News stories about Kornit Digital (NASDAQ:KRNT) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research group scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Kornit Digital earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned news coverage about the industrial products company an impact score of 46.3155300902566 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Kornit Digital (KRNT) remained flat at $16.50 during midday trading on Wednesday. The company’s stock had a trading volume of 67,025 shares. The stock’s 50 day moving average price is $18.28 and its 200-day moving average price is $18.57. Kornit Digital has a 12 month low of $8.90 and a 12 month high of $23.15. The stock’s market capitalization is $555.36 million.
Kornit Digital (NASDAQ:KRNT) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The company had revenue of $28.59 million during the quarter, compared to analyst estimates of $29.81 million. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $0.02 EPS. Equities research analysts forecast that Kornit Digital will post $0.42 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on KRNT shares. BidaskClub cut shares of Kornit Digital from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Barclays PLC lifted their price objective on shares of Kornit Digital from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 10th. Zacks Investment Research raised shares of Kornit Digital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $24.00 price objective on shares of Kornit Digital in a research report on Tuesday, August 8th. Finally, Craig Hallum started coverage on shares of Kornit Digital in a research report on Tuesday, July 11th. They set a “buy” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.86.
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About Kornit Digital
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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