Kornit Digital (NASDAQ:KRNT) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Kornit Digital (NASDAQ:KRNT) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03, Briefing.com reports. The business had revenue of $50.73 million for the quarter, compared to the consensus estimate of $50.44 million. Kornit Digital had a negative return on equity of 3.22% and a negative net margin of 23.63%. The firm’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Kornit Digital updated its Q4 2024 guidance to EPS.

Kornit Digital Trading Up 3.5 %

NASDAQ:KRNT traded up $1.02 on Thursday, hitting $30.42. The company had a trading volume of 337,936 shares, compared to its average volume of 370,503. Kornit Digital has a 52 week low of $13.59 and a 52 week high of $31.19. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -29.50 and a beta of 1.93. The firm has a 50 day moving average of $23.39 and a two-hundred day moving average of $18.38.

Wall Street Analyst Weigh In

A number of research analysts recently commented on KRNT shares. StockNews.com upgraded Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Barclays boosted their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 1st. Morgan Stanley upped their price target on shares of Kornit Digital from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Needham & Company LLC lifted their price objective on shares of Kornit Digital from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Craig Hallum upped their target price on Kornit Digital from $27.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Kornit Digital Company Profile

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. Its solutions include digital printing systems, ink and other consumables, associated software, and value-added services.