William Blair Brokers Lift Earnings Estimates for Kornit Digital Ltd. (NASDAQ:KRNT)
Kornit Digital Ltd. (NASDAQ:KRNT) – Equities researchers at William Blair lifted their Q3 2017 EPS estimates for shares of Kornit Digital in a research note issued on Tuesday. William Blair analyst B. Drab now forecasts that the industrial products company will earn $0.11 per share for the quarter, up from their prior forecast of $0.10. William Blair also issued estimates for Kornit Digital’s FY2017 earnings at $0.29 EPS and FY2018 earnings at $0.54 EPS.
Kornit Digital (NASDAQ:KRNT) last announced its earnings results on Monday, August 7th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. Kornit Digital had a positive return on equity of 7.05% and a negative net margin of 0.29%. The firm had revenue of $28.59 million during the quarter, compared to analyst estimates of $29.81 million. During the same quarter in the prior year, the company earned $0.02 EPS. The business’s revenue was up 19.4% compared to the same quarter last year.
KRNT has been the subject of a number of other reports. Barclays PLC lifted their target price on Kornit Digital from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, May 10th. Citigroup Inc. set a $22.00 target price on Kornit Digital and gave the stock a “buy” rating in a report on Tuesday, April 25th. BidaskClub downgraded Kornit Digital from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Kornit Digital from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $24.00 price objective on shares of Kornit Digital in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $21.86.
Kornit Digital (KRNT) opened at 16.90 on Friday. The stock has a 50 day moving average price of $20.09 and a 200 day moving average price of $18.63. Kornit Digital has a 12 month low of $8.90 and a 12 month high of $23.15. The company’s market cap is $568.82 million.
A number of large investors have recently made changes to their positions in KRNT. Public Employees Retirement Association of Colorado purchased a new stake in shares of Kornit Digital during the second quarter worth approximately $101,000. Cowen Prime Services LLC boosted its position in shares of Kornit Digital by 104.8% in the second quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock valued at $117,000 after buying an additional 3,100 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Kornit Digital by 1,540.0% in the second quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock valued at $159,000 after buying an additional 7,700 shares during the last quarter. Sei Investments Co. boosted its position in shares of Kornit Digital by 104.3% in the first quarter. Sei Investments Co. now owns 9,111 shares of the industrial products company’s stock valued at $174,000 after buying an additional 4,652 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Kornit Digital during the fourth quarter valued at about $218,000. 63.29% of the stock is owned by hedge funds and other institutional investors.
Kornit Digital Company Profile
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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