Kornit Digital (NASDAQ:KRNT) released its quarterly earnings data on Monday, November 12th. The industrial products company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01, Morningstar.com reports. Kornit Digital had a return on equity of 4.53% and a net margin of 3.78%. The company had revenue of $37.60 million for the quarter, compared to analysts’ expectations of $37.65 million. During the same period last year, the firm posted $0.05 earnings per share. Kornit Digital’s revenue was up 32.4% compared to the same quarter last year.
Shares of KRNT traded down $2.20 during trading hours on Wednesday, hitting $20.12. The company had a trading volume of 1,827,397 shares, compared to its average volume of 326,366. The firm has a market cap of $789.75 million, a price-to-earnings ratio of 111.60 and a beta of 0.74. Kornit Digital has a one year low of $11.70 and a one year high of $23.90.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its stake in Kornit Digital by 36.6% during the 3rd quarter. CWM LLC now owns 247,727 shares of the industrial products company’s stock worth $5,425,000 after buying an additional 66,325 shares during the last quarter. LA Financiere DE L Echiquier grew its stake in Kornit Digital by 20.8% during the 3rd quarter. LA Financiere DE L Echiquier now owns 627,944 shares of the industrial products company’s stock worth $13,752,000 after buying an additional 107,944 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Kornit Digital during the 2nd quarter worth $201,000. Russell Investments Group Ltd. grew its stake in Kornit Digital by 55.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 495,143 shares of the industrial products company’s stock worth $8,813,000 after buying an additional 176,684 shares during the last quarter. Finally, Cowen Prime Services LLC grew its stake in Kornit Digital by 20.3% during the 2nd quarter. Cowen Prime Services LLC now owns 64,944 shares of the industrial products company’s stock worth $1,156,000 after buying an additional 10,950 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on KRNT. BidaskClub raised Kornit Digital from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. Stifel Nicolaus lifted their target price on Kornit Digital from $21.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, October 8th. ValuEngine raised Kornit Digital from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Needham & Company LLC lifted their target price on Kornit Digital from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, TheStreet upgraded Kornit Digital from a “c+” rating to a “b” rating in a report on Wednesday, November 14th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $22.60.
Kornit Digital Company Profile
Kornit Digital Ltd. develops, manufactures, and markets industrial digital printing technologies for the garment, apparel, and textile industries. The company focuses on the direct-to-garment and roll-to-roll segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software, and value added services.
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