Kornit Digital Ltd (NASDAQ:KRNT) Expected to Announce Quarterly Sales of $45.69 Million

Analysts expect that Kornit Digital Ltd (NASDAQ:KRNT) will announce $45.69 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Kornit Digital’s earnings. The highest sales estimate is $45.80 million and the lowest is $45.59 million. Kornit Digital posted sales of $35.88 million in the same quarter last year, which suggests a positive year over year growth rate of 27.3%. The company is expected to issue its next earnings results on Monday, August 5th.

According to Zacks, analysts expect that Kornit Digital will report full-year sales of $181.31 million for the current fiscal year, with estimates ranging from $179.62 million to $183.00 million. For the next fiscal year, analysts expect that the company will report sales of $223.77 million, with estimates ranging from $215.55 million to $232.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Kornit Digital.

Kornit Digital (NASDAQ:KRNT) last posted its earnings results on Monday, May 13th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Kornit Digital had a net margin of 6.88% and a return on equity of 4.27%. The business had revenue of $38.20 million during the quarter, compared to analyst estimates of $37.97 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The firm’s revenue was up 22.8% on a year-over-year basis.

KRNT has been the subject of a number of research analyst reports. BidaskClub cut Kornit Digital from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus boosted their target price on Kornit Digital from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Needham & Company LLC boosted their target price on Kornit Digital from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Zacks Investment Research cut Kornit Digital from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Finally, TheStreet cut Kornit Digital from a “b” rating to a “c+” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $25.67.

Several hedge funds have recently bought and sold shares of KRNT. Vanguard Group Inc. grew its stake in shares of Kornit Digital by 44.0% during the third quarter. Vanguard Group Inc. now owns 15,184 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 4,642 shares during the period. BlackRock Inc. grew its stake in shares of Kornit Digital by 20.3% during the fourth quarter. BlackRock Inc. now owns 494,083 shares of the industrial products company’s stock worth $9,249,000 after purchasing an additional 83,303 shares during the period. Global Alpha Capital Management Ltd. acquired a new stake in shares of Kornit Digital during the fourth quarter worth $4,822,000. Quantum Capital Management grew its stake in shares of Kornit Digital by 9.9% during the fourth quarter. Quantum Capital Management now owns 172,860 shares of the industrial products company’s stock worth $3,236,000 after purchasing an additional 15,593 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Kornit Digital by 23.0% during the fourth quarter. Van ECK Associates Corp now owns 11,152 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 2,083 shares during the period. 95.59% of the stock is owned by institutional investors.

NASDAQ:KRNT opened at $31.66 on Friday. Kornit Digital has a 1 year low of $16.10 and a 1 year high of $32.20. The company has a current ratio of 2.94, a quick ratio of 2.04 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.28 billion, a PE ratio of 131.92 and a beta of 1.03. The firm has a 50-day simple moving average of $27.69.

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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