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

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

Kornit Digital Stock Performance

KRNT opened at $30.42 on Friday. Kornit Digital has a fifty-two week low of $13.59 and a fifty-two week high of $31.19. The company has a market capitalization of $1.45 billion, a P/E ratio of -29.53 and a beta of 1.93. The stock has a fifty day moving average of $23.62 and a 200-day moving average of $18.46.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on Kornit Digital from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Needham & Company LLC upped their price target on Kornit Digital from $27.00 to $31.00 and gave the company 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. Barclays increased their target price on Kornit Digital from $21.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Finally, Craig Hallum increased their target price on Kornit Digital from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

View Our Latest Research Report on KRNT

About Kornit Digital

(Get Free Report)

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.

See Also

Earnings History for Kornit Digital (NASDAQ:KRNT)

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