Kornit Digital (KRNT) Scheduled to Post Quarterly Earnings on Wednesday

Kornit Digital (NASDAQ:KRNT – Get Rating) will be announcing its earnings results before the market opens on Wednesday, May 11th. Analysts expect the company to announce earnings of $0.08 per share for the quarter. Kornit Digital has set its Q1 2022 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Kornit Digital (NASDAQ:KRNT – Get Rating) last issued its quarterly earnings results on Tuesday, February 15th. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.12). The company had revenue of $95.40 million during the quarter, compared to analysts’ expectations of $89.99 million. Kornit Digital had a return on equity of 3.51% and a net margin of 4.82%. Kornit Digital’s revenue was up 28.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. On average, analysts expect Kornit Digital to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NASDAQ KRNT opened at $68.43 on Wednesday. The firm has a market cap of $3.40 billion, a PE ratio of 207.37 and a beta of 1.90. The firm has a fifty day moving average of $78.78 and a 200 day moving average of $115.28. Kornit Digital has a one year low of $64.87 and a one year high of $181.38.

Several equities research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Kornit Digital in a report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research raised shares of Kornit Digital from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 20th. Finally, Needham & Company LLC cut their price target on shares of Kornit Digital from $202.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $173.80.

A number of institutional investors and hedge funds have recently made changes to their positions in KRNT. BlackRock Inc. boosted its stake in Kornit Digital by 56.3% during the 4th quarter. BlackRock Inc. now owns 1,736,625 shares of the industrial products company’s stock worth $264,402,000 after purchasing an additional 625,255 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Kornit Digital by 156.1% during the 4th quarter. Deutsche Bank AG now owns 182,401 shares of the industrial products company’s stock valued at $27,770,000 after acquiring an additional 111,182 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Kornit Digital by 4,247.7% during the 4th quarter. JPMorgan Chase & Co. now owns 25,173 shares of the industrial products company’s stock valued at $3,832,000 after acquiring an additional 24,594 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in shares of Kornit Digital during the 4th quarter valued at about $3,609,000. Finally, Marshall Wace LLP acquired a new position in shares of Kornit Digital during the 4th quarter valued at about $2,398,000. 92.13% of the stock is currently owned by institutional investors.

About Kornit Digital (Get Rating)

Kornit Digital Ltd. develops, designs, and markets digital printing solutions for the fashion, apparel, and home decor segments of printed textile industry in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company's solutions include digital printing systems, ink and other consumables, associated software, and value-added services.

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