Kornit Digital Ltd. (NASDAQ: KRNT) stock jumped 19.55% on Friday to $35.47 against a previous-day closing price of $29.67. With 1.42 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.05 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $35.84 whereas the lowest price it dropped to was $32.17. The 52-week range on KRNT shows that it touched its highest point at $181.38 and its lowest point at $20.40 during that stretch. It currently has a 1-year price target of $49.50. Beta for the stock currently stands at 1.80.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KRNT was up-trending over the past week, with a rise of 18.31%, but this was up by 47.06% over a month. Three-month performance dropped to -37.12% while six-month performance fell -64.45%. The stock lost -72.69% in the past year, while it has lost -76.70% so far this year. A look at the trailing 12-month EPS for KRNT yields 0.11 with Next year EPS estimates of 0.66. For the next quarter, that number is -0.32. This implies an EPS growth rate of 382.50% for this year and 631.11% for next year. EPS is expected to decline by -1.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 65.00%.
Float and Shares Shorts:
At present, 49.66 million KRNT shares are outstanding with a float of 49.47 million shares on hand for trading. On Jul 14, 2022, short shares totaled 1.9 million, which was 3.81% higher than short shares on Jun 14, 2022. In addition to Mr. Ronen Samuel as the firm’s CEO & Director, Mr. Ilan Givon serves as its Exec. VP of Operations.
Through their ownership of 104.82% of KRNT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.71% of KRNT, in contrast to 38.80% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in KRNT with 10.12% of the stake, Wasatch Advisors, Inc. holds 5,028,195 shares worth 5,028,195. A second-largest stockholder of KRNT, Senvest Management LLC, holds 2,836,587 shares, controlling over 5.71% of the firm’s shares. Artisan Partners LP is the third largest shareholder in KRNT, holding 2,379,860 shares or 4.79% stake. With a 3.13% stake in KRNT, the Artisan International Small-Mid F is the largest stakeholder. A total of 1,552,583 shares are owned by the mutual fund manager. The Wasatch Small Cap Growth Fund, which owns about 1.88% of KRNT stock, is the second-largest Mutual Fund holder. It holds 936,140 shares valued at 29.68 million. Aberdeen Std. OEIC II – ASI Globa holds 1.37% of the stake in KRNT, owning 682,354 shares worth 21.63 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2022, KRNT reported revenue of $83.29M and operating income of -$6.91M. Over the past year, revenue came in at $339.18M while operating income stood at $2.78M. It generated -$5.20M net income for the quarter, which came to $5.23M over the last twelve months. The EBITDA in the recently reported quarter was -$4.33M and diluted EPS was -$0.10. EBITDA for the full year was $12.17M.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KRNT since 9 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With KRNT analysts setting a high price target of $95.00 and a low target of $32.00, the average target price over the next 12 months is $51.25. Based on these targets, KRNT could surge 167.83% to reach the target high and fall by -9.78% to reach the target low. Reaching the average price target will result in a growth of 44.49% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. KRNT will report FY 2022 earnings on 02/14/2023. Analysts have provided yearly estimates in a range of $0.38 being high and -$0.92 being low. For KRNT, this leads to a yearly average estimate of -$0.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Kornit Digital Ltd. surprised analysts by $0.02 when it reported -$0.31 EPS against a consensus estimate of -$0.33. The surprise factor in the prior quarter was -$0.13. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.32. The average estimate for the next quarter is thus -$0.15.