Kornit Digital (NASDAQ:KRNT) announced its earnings results on Monday. The industrial products company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.03), Briefing.com reports. The company had revenue of $38.20 million during the quarter, compared to analysts’ expectations of $37.97 million. Kornit Digital had a return on equity of 4.36% and a net margin of 6.88%. Kornit Digital’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS.
KRNT opened at $26.02 on Wednesday. Kornit Digital has a 52-week low of $15.55 and a 52-week high of $29.63. The firm has a market cap of $920.81 million, a P/E ratio of 131.30 and a beta of 1.08.
A number of equities analysts have recently commented on the company. BidaskClub cut Kornit Digital from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research cut Kornit Digital from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Stifel Nicolaus lifted their target price on Kornit Digital from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, Needham & Company LLC lifted their target price on Kornit Digital from $24.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Kornit Digital presently has a consensus rating of “Buy” and an average price target of $24.29.
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About Kornit Digital
Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry. The company's solutions include digital printing systems, ink and other consumables, associated software, and value added services. It offers direct-to-garment printing systems from smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and value added services, such as maintenance and support, and professional services.
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