Kornit Digital (NASDAQ:KRNT) Releases Quarterly Earnings Results, Beats Expectations By $0.04 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 $0.07 by $0.04, Briefing.com reports. The firm had revenue of $50.73 million during the quarter, compared to analyst estimates of $50.44 million. Kornit Digital had a negative return on equity of 2.17% and a negative net margin of 21.00%. Kornit Digital’s quarterly revenue was down 14.3% compared to the same quarter last year. During the same period last year, the company earned ($0.17) EPS. Kornit Digital updated its Q4 2024 guidance to EPS.

Kornit Digital Price Performance

NASDAQ KRNT opened at $30.47 on Friday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -34.63 and a beta of 1.93. The stock’s fifty day moving average price is $23.86 and its 200 day moving average price is $18.58. Kornit Digital has a 1 year low of $13.59 and a 1 year high of $31.19.

Analyst Ratings Changes

KRNT has been the topic of a number of research reports. Barclays raised their target price on shares of Kornit Digital from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 1st. StockNews.com raised Kornit Digital from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Needham & Company LLC increased their price target on Kornit Digital from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday. Craig Hallum lifted their price objective on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. Finally, Morgan Stanley increased their target price 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.