Equities analysts expect Kornit Digital Ltd. (NASDAQ:KRNT) to announce $27.78 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Kornit Digital’s earnings, with estimates ranging from $27.39 million to $28.14 million. Kornit Digital posted sales of $30.92 million in the same quarter last year, which would indicate a negative year over year growth rate of 10.2%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, November 7th.

On average, analysts expect that Kornit Digital will report full year sales of $27.78 million for the current fiscal year, with estimates ranging from $116.12 million to $118.80 million. For the next year, analysts anticipate that the firm will report sales of $156.01 million per share, with estimates ranging from $155.00 million to $156.76 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $28.59 million during the quarter, compared to the consensus estimate of $29.81 million. Kornit Digital had a negative net margin of 0.29% and a positive return on equity of 7.05%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share.

Several brokerages have recently weighed in on KRNT. Stifel Nicolaus decreased their target price on shares of Kornit Digital from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Kornit Digital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Craig Hallum decreased their target price on shares of Kornit Digital from $20.00 to $26.00 in a research note on Thursday, September 28th. Barclays PLC decreased their target price on shares of Kornit Digital from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, September 27th. Finally, BidaskClub downgraded shares of Kornit Digital from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.83.

Kornit Digital (KRNT) opened at $15.40 on Tuesday. The firm has a market cap of $527.95, a price-to-earnings ratio of 57.96, a PEG ratio of 5.10 and a beta of 0.06. Kornit Digital has a 52 week low of $9.00 and a 52 week high of $23.15.

A number of hedge funds and other institutional investors have recently bought and sold shares of KRNT. American Capital Management Inc. bought a new position in Kornit Digital during the 3rd quarter valued at $16,717,000. Russell Investments Group Ltd. boosted its stake in Kornit Digital by 362.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 861,802 shares of the industrial products company’s stock valued at $16,676,000 after acquiring an additional 675,569 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its stake in Kornit Digital by 609.1% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 604,120 shares of the industrial products company’s stock valued at $11,690,000 after acquiring an additional 518,927 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in Kornit Digital by 64.2% during the 2nd quarter. Stephens Investment Management Group LLC now owns 1,269,012 shares of the industrial products company’s stock valued at $24,555,000 after acquiring an additional 496,117 shares during the last quarter. Finally, Wasatch Advisors Inc. bought a new position in Kornit Digital during the 2nd quarter valued at $8,604,000. Hedge funds and other institutional investors own 77.62% of the company’s stock.

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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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