Kornit Digital Ltd (KRNT) reported quarterly earnings results on Tuesday, May-3-2016. The company reported $0.02 EPS for the quarter. Analysts had a consensus estimate of $0.02. The company posted revenue of $21.80 million in the period, compared to analysts expectations of $22.54 million. The company’s revenue was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS.
Many Wall Street Analysts have commented on Kornit Digital Ltd. Shares were Reiterated by Stifel on Feb 10, 2016 to “Buy” and Lowered the Price Target to $ 17 from a previous price target of $18 .Shares were Reiterated by Barclays on Feb 10, 2016 to “Overweight” and Lowered the Price Target to $ 16 from a previous price target of $18 .
Kornit Digital Ltd closed down -0.18 points or -1.78% at $9.95 with 17,640 shares getting traded on Monday. Post opening the session at $10.24, the shares hit an intraday low of $9.79 and an intraday high of $10.27 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Kornit Digital Ltd. develops designs and markets digital printing solutions for the printed textile industry. The Company is focused on the direct-to-garment (DTG) segment of the printed textile industry. The Company’s solutions include its digital printing systems ink and other consumables associated software and value added services that allow for large scale printing of short runs of complex images and designs directly on finished garments. Its line of DTG systems offers a range of performance options which include the number and size of printing pallets number of print heads printing throughput and process ink colors as well as other customizable features. The Company’s high-throughput systems consist of its Avalanche family of systems Storm II and Paradigm II. The Company’s ink and other consumables consist of its NeoPigment ink binding agent priming fluid wiping fluid and flushing fluid.