Kornit Digital Ltd. (KRNT) can make a big difference with a little luck

Kornit Digital Ltd. (NASDAQ: KRNT) stock fell -0.08% on Wednesday to $25.38 against a previous-day closing price of $25.40. With 0.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.59 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $25.74 whereas the lowest price it dropped to was $24.61. The 52-week range on KRNT shows that it touched its highest point at $173.11 and its lowest point at $20.40 during that stretch. It currently has a 1-year price target of $36.83. Beta for the stock currently stands at 1.66.

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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 down-trending over the past week, with a drop of -6.79%, but this was down by -10.41% over a month. Three-month performance dropped to -20.16% while six-month performance fell -34.42%. The stock lost -84.75% in the past year, while it has lost -83.33% so far this year. A look at the trailing 12-month EPS for KRNT yields -0.86 with Next year EPS estimates of -0.02. For the next quarter, that number is -0.10. This implies an EPS growth rate of 382.50% for this year and 97.00% for next year. EPS is expected to decline by -2.80% 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, 49.83 million KRNT shares are outstanding with a float of 49.59 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.75 million, which was 3.52% higher than short shares on Sep 14, 2022. In addition to Mr. Ronen Samuel as the firm’s CEO & Director, Mr. Ilan Givon serves as its Exec. VP of Operations.

Institutional Ownership:

Through their ownership of 98.91% of KRNT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 59.42% of KRNT, in contrast to 36.96% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in KRNT with 11.25% of the stake, Wasatch Advisors, Inc. holds 5,600,400 shares worth 5,600,400. A second-largest stockholder of KRNT, Artisan Partners LP, holds 4,212,908 shares, controlling over 8.46% of the firm’s shares. Granahan Investment Management, L is the third largest shareholder in KRNT, holding 3,297,827 shares or 6.62% stake. With a 3.96% stake in KRNT, the Artisan International Small-Mid F is the largest stakeholder. A total of 1,972,366 shares are owned by the mutual fund manager. The Wasatch Small Cap Growth Fund, which owns about 2.09% of KRNT stock, is the second-largest Mutual Fund holder. It holds 1,041,916 shares valued at 27.84 million. Wasatch Ultra Growth Fund holds 1.92% of the stake in KRNT, owning 957,845 shares worth 25.59 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KRNT since 7 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 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 $43.00 and a low target of $25.00, the average target price over the next 12 months is $36.83. Based on these targets, KRNT could surge 69.42% to reach the target high and fall by -1.5% to reach the target low. Reaching the average price target will result in a growth of 45.11% 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 -$0.60 being high and -$0.85 being low. For KRNT, this leads to a yearly average estimate of -$0.66. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Kornit Digital Ltd. surprised analysts by -$0.06 when it reported -$0.21 EPS against a consensus estimate of -$0.15. The surprise factor in the prior quarter was $0.02. The average estimate for the next quarter is thus -$0.07.

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