Kornit Digital (NASDAQ:KRNT) Announces Quarterly Earnings Results

Kornit Digital (NASDAQ:KRNT) released its earnings results on Wednesday. The industrial products company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.14), Zacks reports. Kornit Digital had a negative net margin of 21.00% and a negative return on equity of 2.17%. Kornit Digital updated its Q1 2025 guidance to EPS.

Kornit Digital Stock Down 5.1 %

KRNT stock traded down $1.50 during mid-day trading on Friday, hitting $27.66. 68,882 shares of the company were exchanged, compared to its average volume of 236,178. Kornit Digital has a 12-month low of $13.59 and a 12-month high of $34.28. The firm has a market capitalization of $1.31 billion, a P/E ratio of -31.53 and a beta of 2.02. The business has a fifty day simple moving average of $30.62 and a 200-day simple moving average of $26.08.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC upped their price target on Kornit Digital from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday. Craig Hallum raised 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, November 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $39.00 price target on shares of Kornit Digital in a research report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Kornit Digital from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Kornit Digital has an average rating of “Moderate Buy” and a consensus target price of $34.00.

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.