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

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

Kornit Digital Trading Up 3.5 %

NASDAQ:KRNT traded up $1.02 during midday trading on Thursday, reaching $30.42. The company had a trading volume of 337,936 shares, compared to its average volume of 370,503. The stock’s fifty day simple moving average is $23.39 and its 200-day simple moving average is $18.38. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $31.19. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -29.50 and a beta of 1.93.

Wall Street Analyst Weigh In

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

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 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.