Wall Street analysts expect Kornit Digital Ltd. (NASDAQ:KRNT) to announce sales of $27.78 million for the current quarter, according to Zacks. Three analysts have made estimates for Kornit Digital’s earnings. The highest sales estimate is $28.14 million and the lowest is $27.39 million. Kornit Digital reported sales of $30.92 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 10.2%. The business is expected to announce its next quarterly earnings report 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 fiscal year, analysts forecast that the company will report sales of $156.01 million per share, with estimates ranging from $155.00 million to $156.76 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $28.59 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.02 EPS.

A number of research firms recently commented on KRNT. BidaskClub downgraded Kornit Digital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Craig Hallum began coverage on Kornit Digital in a research note on Tuesday, July 11th. They issued a “buy” rating and a $26.00 price target for the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 price target on shares of Kornit Digital in a research note on Tuesday, August 8th. Finally, Needham & Company LLC dropped their price target on Kornit Digital from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, September 27th. Two 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 currently has a consensus rating of “Hold” and a consensus target price of $18.83.

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement Association of Colorado acquired a new position in Kornit Digital during the second quarter worth about $101,000. Cowen Prime Services LLC raised its stake in Kornit Digital by 104.8% during the second quarter. Cowen Prime Services LLC now owns 6,058 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 3,100 shares in the last quarter. Van ECK Associates Corp raised its stake in Kornit Digital by 49.4% during the second quarter. Van ECK Associates Corp now owns 7,813 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 2,583 shares in the last quarter. Wells Fargo & Company MN raised its stake in Kornit Digital by 1,540.0% during the second quarter. Wells Fargo & Company MN now owns 8,200 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 7,700 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Kornit Digital by 104.3% during the first quarter. Sei Investments Co. now owns 9,111 shares of the industrial products company’s stock worth $174,000 after acquiring an additional 4,652 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

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Shares of Kornit Digital (NASDAQ:KRNT) traded down 0.65% during midday trading on Wednesday, hitting $15.35. 131,554 shares of the company were exchanged. The company’s market capitalization is $517.83 million. The company has a 50-day moving average of $16.23 and a 200 day moving average of $16.23. Kornit Digital has a one year low of $9.00 and a one year high of $19.30.

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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