Kornit Digital Ord Up 11% To $19.02 After Earnings

Kornit Digital Ord (KRNT) said before open Wednesday that it broke even in quarter four 2023.

In the same quarter a year ago, the company lost $0.13 per share on revenue of $63.3 million.

The stock is up 11% to $19.02 after the report.

Kornit Digital Ord's profit margins maintained as both earnings and revenue declined at the same pace.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Kornit Digital Ord a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 33. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Kornit Digital Ltd develops, designs and markets digital printing solutions for the global printed textile industry. The company focuses on its DTG and DTF segments of the printed textile industry. Its solutions include 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 and fabrics. It has developed and offers a broad portfolio of differentiated digital printing solutions for the DTG market that provide answers to challenges faced by participants in the global printed textile industry. It generates revenue from sales of systems, ink and other consumables and service including software subscriptions.