Kornit Digital Posts Q2 Adjusted EPS of 4 Cents, Beating Expectations
KRNT sits 51% above its 52-week low of $11.93.
Summary
Kornit Digital reported Q2 adjusted earnings of 4 cents per share, a positive surprise that signals improving profitability. The company had previously guided to revenue at the top end of its range and strong recurring revenue growth in Q1, and this EPS beat suggests those trends continued. With a $100M buyback program in place and a market cap around $755M, the earnings beat could drive upward price action. The annual meeting on August 31 may provide further strategic updates.
At the time of this announcement, KRNT was trading at $18.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $755.4M. The 52-week trading range was $11.93 to $19.78. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.