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. Its products and services include direct-to-garment printing platform for smaller industrial operators to mass producers; NeoPigment ink and other consumables; QuickP designer software; and maintenance and support, consulting, and professional services. The company serves decorators, online businesses, brand owners, and contract printers. Kornit Digital Ltd. was incorporated in 2002 and is headquartered in Rosh HaAyin, Israel.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on KRNT. Citigroup dropped their price target on shares of Kornit Digital from $90.00 to $50.00 and set a "buy" rating on the stock in a research note on Wednesday, July 6th. Stifel Nicolaus downgraded Kornit Digital from a "buy" rating to a "hold" rating and cut their target price for the stock from $100.00 to $50.00 in a research note on Wednesday, July 6th. Needham & Company LLC boosted their price objective on shares of Kornit Digital from $38.00 to $46.00 and gave the stock a "buy" rating in a research report on Thursday, August 11th. TheStreet downgraded shares of Kornit Digital from a "c-" rating to a "d+" rating in a report on Thursday, June 2nd. Finally, Craig Hallum upped their price objective on shares of Kornit Digital from $26.00 to $32.00 and gave the company a "hold" rating in a research note on Thursday, August 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Kornit Digital currently has an average rating of "Hold" and an average price target of $75.60.
Kornit Digital Stock Down 2.3 %
Shares of NASDAQ:KRNT traded down $0.80 during midday trading on Tuesday, hitting $34.16. The stock had a trading volume of 2,067 shares, compared to its average volume of 763,860. The company's 50-day simple moving average is $30.78 and its 200 day simple moving average is $58.64. Kornit Digital has a fifty-two week low of $20.40 and a fifty-two week high of $181.38.
Kornit Digital (NASDAQ:KRNT - Get Rating) last released its quarterly earnings results on Wednesday, August 10th. The industrial products company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Kornit Digital had a negative net margin of 6.29% and a negative return on equity of 1.89%. The company had revenue of $62.50 million during the quarter, compared to the consensus estimate of $58.00 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm's revenue was down 29.2% compared to the same quarter last year. On average, equities research analysts forecast that Kornit Digital will post -1.42 EPS for the current year.