Kornit Digital (NASDAQ:KRNT) Initiates Share Repurchase Program

by · The Cerbat Gem

Kornit Digital (NASDAQ:KRNT – Get Free Report) declared that its Board of Directors has authorized a share repurchase program on Monday, November 17th, RTT News reports. The company plans to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 17.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Kornit Digital Trading Up 2.3%

Shares of KRNT stock traded up $0.29 during trading on Monday, hitting $12.99. The company’s stock had a trading volume of 1,302,744 shares, compared to its average volume of 346,022. The company has a market cap of $581.89 million, a PE ratio of -51.96 and a beta of 1.94. The business has a fifty day moving average of $13.88 and a 200-day moving average of $17.34. Kornit Digital has a 52 week low of $11.93 and a 52 week high of $34.28.

Kornit Digital (NASDAQ:KRNT – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The industrial products company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. Kornit Digital had a negative return on equity of 0.74% and a negative net margin of 5.43%.The business had revenue of $53.13 million for the quarter, compared to analyst estimates of $51.79 million. During the same period last year, the company posted $0.11 earnings per share. Kornit Digital’s quarterly revenue was up 4.7% compared to the same quarter last year. Kornit Digital has set its Q4 2025 guidance at EPS. As a group, research analysts predict that Kornit Digital will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on KRNT shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $15.00 price objective (down from $20.00) on shares of Kornit Digital in a research note on Thursday, November 6th. Cantor Fitzgerald lowered their target price on shares of Kornit Digital from $28.50 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Needham & Company LLC dropped their price target on shares of Kornit Digital from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Barclays cut their price target on Kornit Digital from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Kornit Digital in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.75.

Check Out Our Latest Stock Report on KRNT

About Kornit Digital

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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.

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